Class 7: Markup Pricing and Elasticity

Textbook reading: Kreps, Chapter 7, “Mark-Up Pricing and Elasticity.” Read all of it. Where Kreps computes an elasticity with a derivative, use his five-step recipe on page 156 instead; it needs only a calculator. Skip the calculus subsections if they slow you down.

📚 These class notes will be published here after class.