sdfsdaf

1. On slates
1. Where am I?
2. What is missing from
this poster?
3. Why is that so
important?

3. Slates
1. How many pairs of flip flops do you own?
2. What price did you or your parents pay for your
favorites? (estimate if you don’t remember) (If you
don’t own a pair, explain why)

4. Where do prices come from
USUALLY NOT THE GOVERNMENT

5. Trading Game
• Flip flop market
• Buyers maximize consumer
surplus
• Sellers maximize producer
surplus
• Whole $1 prices
• Top 2 players get 5
Quantitative Easing points

6. Supply/Demand game Closure
A. What happened to the equilibrium price in
the different rounds?
B. How would the price have changed if we
doubled the number of buyers?
C. How would the price have changed if we
doubled the number of sellers?
D. Did you like being a buyer or seller more,
explain why?