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MICRO ECO C1, Week 4 ch4, Week 5 elasticity, week2, week 6 supply…

- - - - Changes?
        
        Input price
        
        Technology
        
        expectations
        
        Number of sellers
        
        natural, social factors
- - - - EX life saving products
    - - nearly vertical Ex petrol and electricity
    - - both change at same rate EX normal goods
    - - nearly horizontal Ex ,,,
    - - horizontal Ex luxury products
- - - - ((Q2 - Q1)/((Q2+Q1)/2)) / ((P2-P1)/((P2 + P1)/2
- - - - Scarcity
      - Choices
      - Tradeoff
      - Opportunity Cost