Chapter 8 part 1 - Agec105 Chapter 8 Supply and Demand Part...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 8: Supply and Demand Part 1 Agec105
Image of page 1

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

View Full Document Right Arrow Icon
2 Topics of Discussion SUPPLY AND SUPPLY CURVE SUPPLY AND QUANTITY SUPPLIED Shifts vs. Movements along the Supply Curve PUTTING TOGETHER SUPPLY AND DEMAND Market Equilibrium Excess Supply and Excess Demand CONSUMER, PRODUCER AND TOTAL SURPLUS PRICE ELASTISITY OF SUPPLY EXCISE TAX
Image of page 2
3 Supply and Demand Model Single most useful tool of economic analysis Explains how prices of goods and quantity bought and sold are determined in certain types of markets What you will learn in this chapter How the model of supply and demand works and how to use it Strengths and limitations of model
Image of page 3

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

View Full Document Right Arrow Icon
4 Supply Supply A firm’s quantity supplied of a good Quantity Supplied Quantity supplied is the specific amount of a good that all sellers in the market would choose to sell over some time period, given A particular price for the good All other constraints on firms
Image of page 4
5 Determinants of Supply
Image of page 5

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

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern