06 Market S&D

06 Market S&D - Right or left? Shift the curve, move...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 101 Alan C. Marco SUPPLY AND DEMAND Equilibrium   No tendency to move (physics, chemistry) Q S  = Q D (P * ,Q * )
Background image of page 1

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

View Full DocumentRight Arrow Icon
Econ 101 Alan C. Marco Pressure towards equilibrium Surplus, Excess Supply Shortage, Excess Demand Pressure towards equilibrium Law of supply and demand Price adjusts to make Q S  = Q D .
Background image of page 2
Econ 101 Alan C. Marco Example: Brain Cleaners Also time shares
Background image of page 3

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

View Full DocumentRight Arrow Icon
Econ 101 Alan C. Marco Changes in Equilibrium (comparative statics) Event Shift D or S or both?
Background image of page 4
Background image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Right or left? Shift the curve, move along the other New equlibrium Econ 101 Alan C. Marco Examples: H2.9 Roman books of prophecy (monopoly) Also H3.4, Goldfinger irradiates gold. Like number of suppliers changing. H3.10. Professional copyists oppose Gutenberg’s press. What happens to wages? Substitutes H3.14. Supply of computer parts exceeds demand? Technology Coffee futures...
View Full Document

This note was uploaded on 04/26/2010 for the course ECON 101 taught by Professor Staff during the Spring '08 term at Vassar.

Page1 / 5

06 Market S&D - Right or left? Shift the curve, move...

This preview shows document pages 1 - 5. Sign up to view the full document.

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