ch2 - 3. Determinants of supply: 4. Changes in supply vs....

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Econ 106 Class notes Chapter 2: Market Forces: Demand and Supply A. Introduction and Overview. 1. Overview 2. The structure of the supply and demand model. B. The Demand Side. 1. Motivation: Diminishing marginal utility: 2. Definition of Demand Curve 3. Determinants of Demand. 4. Changes in demand vs. changes in qty demand. 5. Example- Sara Lee C. The Supply Side. 1. Driving Force. The Law of Diminishing Returns 2. Definition of Supply Curve
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Unformatted text preview: 3. Determinants of supply: 4. Changes in supply vs. changes in quantity supply. 5. An analytical example. 1 D. Equilibrium. Putting Supply and Demand Together 1. Definition. Setting Q d = Q s implies that P Qd Qs 15 140 170 14 144 164 13 148 158 12 152 152 11 156 146 2. The Stability and desirability of equilibrium 3. Example- oil, Tucson 4. Binding the market. Price ceilings 2...
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ch2 - 3. Determinants of supply: 4. Changes in supply vs....

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