Uploaded January 2026 | Updated September 2026, 1 week ago

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This video provides teachers with a walkthrough of MRU's Price Elasticity of Demand lesson plan, including demos of videos and interactives. This lesson plan is Day 1 of our Price Elasticity unit.

Teachers can access the unit plan for FREE at learn.mru.org/lesson-plans/price-elasticity-unit

Student learning objectives:
- Define elasticity of demand.
- Calculate the price elasticity of demand.
- Compare the relative price elasticities of demand for common goods.
- Evaluate how price elasticity influences tax revenue generation and consumer behavior in common excise taxes.