Econ Lecture 6 9

Econ Lecture 6 9 - Econ Lecture 6 9.9 15:10 Secondary...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

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

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Econ Lecture 6 9.9 15:10 Secondary Effects Concurrent demand and supply shifts Movement in demand and supply at the same time Increase in demand and decrease in supply o Price is going to go up o Push prices up Is the objective is to depress the price of timber o Either shift decrease- demand or increase supply Cost price illusion fallacy price is formed by the interaction of demand and supply doesnt mean one plays a larger role than another o Which one is more important ? Alfred marshall both blades of the scissor helpful to think that both demand and supply does the cutting Work jointly to determine and influence prices What is preventing the market from clearing o Disequilibrium prices market does not clear at either price If the demand and supply curve doesnt shift price is at rest and shouldnt be...
View Full Document

This note was uploaded on 01/19/2011 for the course ECON 2005 taught by Professor Zirkle during the Fall '07 term at Virginia Tech.

Page1 / 4

Econ Lecture 6 9 - Econ Lecture 6 9.9 15:10 Secondary...

This preview shows document pages 1 - 2. Sign up to view the full document.

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