11 - Results from Lab 3 2009 First Five Rounds The Market...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Results from Lab 3, 2009: First Five Rounds
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
The Market: Four Simple Rules Quantity Price Ceteris Paribus, an increase in demand will lead to an increase in both the equilibrium price and quantity. D D’ S P’ P QQ Quantity Ceteris Paribus, a decrease in demand will lead to a decrease in both the equilibrium price and quantity. D’ D S P P’ Q’ Q Quantity Ceteris Paribus, an increase in supply will lead to a decrease in the equilibrium price and an increase in the equilibrium quantity. D S’ S P P’ Quantity Ceteris Paribus, a decrease in supply will lead to an increase in the equilibrium price and a decrease in the equilibrium quantity.
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 4

11 - Results from Lab 3 2009 First Five Rounds The Market...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online