Lecture+4+September+14

Lecture+4+September+14 - Today s Agenda Equilibrium price...

Info iconThis preview shows pages 1–14. 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

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight 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: Today s Agenda Equilibrium price and quantity in the supply and demand model Comparative statics The rationing and signaling functions of prices Need to find your lost clicker ID? See me after class with your clicker, pencil, and paper. TA office hours Ms. Zhang New Jersey Hall 423 Wednesdays, 11:20 a.m. to 12:20 p.m. Ms. Sapra New Jersey Hall 427 Thursdays, 2:40 p.m. to 3:40 p.m. Optional review/problem Q&A sessions begin this week Distinguish: change in quantity demanded movement along the demand curve results from a change in the goods own price Distinguish: change in quantity demanded movement along the demand curve results from a change in the goods own price Q $/Q D Distinguish: change in quantity demanded movement along the demand curve results from a change in the goods own price change in demand shift of the demand curve results from a change in any other determinant of demand Q $/Q D Distinguish: change in quantity demanded movement along the demand curve results from a change in the goods own price change in demand shift of the demand curve results from a change in any other determinant of demand Q $/Q D Determinants of Supply Technology Goals of Producers Costs of inputs used in production Own Price Prices of related goods Determinants of Supply Technology Goals of Producers Costs of inputs used in production Own Price Prices of related goods Determinants of Supply Technology Goals of Producers Costs of inputs used in production Own Price Prices of related goods How does Q S vary with P? Determinants of Supply Technology Goals of Producers Costs of inputs used in production Own Price Prices of related goods How does Q S vary with P? Table: supply schedule Equation Graph: supply curve If the price of bananas rises, A. The supply of apples falls B. The supply of apples rises C. The demand for apples falls D. The demand for apples rises Marginal magnitudes mean much in microeconomics Demand curve represents marginal willingness to pay ....
View Full Document

Page1 / 69

Lecture+4+September+14 - Today s Agenda Equilibrium price...

This preview shows document pages 1 - 14. Sign up to view the full document.

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