Lec6 - Opportunity cost b Incentives 2 Supply schedule –...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 6 02/01/2011 1. Price too high – Surprlus 2. Pice too low – shortage 3. Market clearing price – market equilibrium 4. Effect of changes in demand on price and quantity sold 5. Effects of changes Supply 1. Law of supply a.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Opportunity cost b. Incentives 2. Supply schedule – supply curve 3. Determinants of supply 4. Change in supply vs. change in quantity supplied Competitions of suppliers force the price to be going down....
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online