Chapter 2 su1

Chapter 2 Demand, Supply, & Market Equilibrium

Demand ,[object Object],[object Object],2-

General Demand Function ,[object Object],[object Object],[object Object],[object Object],2- ,[object Object],[object Object],[object Object]

General Demand Function ,[object Object],[object Object],[object Object],[object Object],[object Object],2-

General Demand Function ,[object Object],2- P P e N M P R Inverse Direct Direct Direct Direct for normal goods Inverse for inferior goods Direct for substitutes b =  Q d /  P is negative c =  Q d /  M is positive c =  Q d /  M is negative d =  Q d /  P R is positive d =  Q d /  P R is negative f =  Q d /  P e is positive g =  Q d /  N is positive Variable Relation to Q d Sign of Slope Parameter e =  Q d /  is positive

Direct Demand Function ,[object Object],[object Object],[object Object],[object Object],[object Object],2-

Inverse Demand Function ,[object Object],[object Object],2-

Graphing Demand Curves ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],2-

Supply ,[object Object],[object Object],2-

Supply ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],2-

General Supply Function ,[object Object],[object Object],[object Object],[object Object],[object Object],2-

General Supply Function ,[object Object],2- P P e F P I P r Direct Direct Direct Inverse Inverse Inverse for substitutes k =  Q s /  P is positive l =  Q s /  P I is negative m =  Q s /  P r is negative m =  Q s /  P r is positive r =  Q s /  P e is negative s =  Q s /  F is positive n =  Q s /  T is positive T Variable Relation to Q s Sign of Slope Parameter

Direct Supply Function ,[object Object],[object Object],2-

Inverse Supply Function ,[object Object],[object Object],2-

Graphing Supply Curves ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],2-

Market Equilibrium ,[object Object],[object Object],[object Object],2-

Market Equilibrium ,[object Object],[object Object],[object Object],[object Object],2-

Measuring the Value of Market Exchange ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],2-

Changes in Market Equilibrium ,[object Object],[object Object],[object Object],[object Object],2-

Simultaneous Shifts ,[object Object],[object Object],[object Object],2-

Ceiling & Floor Prices ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],2-

Chapter 2 su1

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Chapter 2 su1