ECN211 L7 Demand and supply analysis_BB

ECN211 L7 Demand and supply analysis_BB - ECN 211...

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1 ECN 211 Macroeconomic Principles L7: Demand and Supply Analysis
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2 RECAP: Determinants of Demand Things we hold constant when constructing a demand curve: 1. Tastes 2. Expectations 3. Number of Buyers 4. Price of Other goods 5. Incomes of buyers If any of these change- then the demand curve will shift.
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3 Effect of a Demand Shift $5 20 Price Quantity $10 10 S D 0 15 $7.50 D 1 D 2
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4 Price Per  DVD Q supplied Qd a Qd b Qd c $5 80 40 60 20 $4 70 50 70 30 $3 60 60 80 40 $2 50 70 90 50 $1 40 80 100 60 Effect of a Demand Shift
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5 RECAP: Determinants of Supply Things we hold constant when constructing a supply curve. 1. Price of other products 2. Resource or Input prices 3. Expectations 4. Number of suppliers 5. Technology If any of these change- then the supply curve will shift.
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6 Effect of a Supply Shift $5 20 Price Quantity $10 10 S 0 S 1 S 2 D 15 $7.50
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7 Effect of a supply shift Price Per  DVD Q demanded Qs a Qs b Qs c $5 45 105 75 135 $4 60 90 60 120 $3 75 75 45 105 $2 90 60 30 90 $1 105 45 15 75
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This note was uploaded on 09/19/2011 for the course ECN 211 taught by Professor Kingston during the Fall '08 term at ASU.

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ECN211 L7 Demand and supply analysis_BB - ECN 211...

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