Class Notes - 9-12-07

Class Notes - 9-12-07 - INCREASES DEMAND-INCOME RISES:...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Macroeconomics – Class Notes – 9/11/07 Demand Schedule for Pizzas Price Quantity Demanded 20 0 15 5 10 10 5 15 0 ~ 20 HELD CONSTANT ALONG DEMAND CURVE Income Prices of Related Goods Expectations of Buyers Number of Buyers Buyer’s Tastes
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: INCREASES DEMAND-INCOME RISES: NORMAL GOOD-Income falls: Inferior good o Example: Used Clothing-Price of Complement Falls-Price of substitute rises -Tastes change:-Expectations: Expect Price to Rise...
View Full Document

Ask a homework question - tutors are online