Activity 01
Graphing Lab: Supply Elasticity Curves
Provide supply schedules for two goods. Pairs plot curves on graph paper, select price changes, calculate elasticity coefficients, and label sections as elastic or inelastic. Groups share one key insight with the class.
Explain the factors that determine the price elasticity of supply.
Facilitation TipDuring the Graphing Lab, have pairs plot curves together so one student can measure while the other records, ensuring both see the link between slope and elasticity.
What to look forProvide students with a scenario: 'The price of fresh strawberries increased by 10% due to a sudden heatwave. The quantity supplied increased by only 5%.' Ask students to calculate the PES and state whether the supply is elastic or inelastic, explaining their reasoning in one sentence.