Demand_Supply_Shifters

Demand_Supply_Shifters - size of consumers additional...

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An Increase In … Shifts The Demand Curve Because at every possible price of the good… the price of a substitute good consumers buy less of the substitute good and more of this good. the price of a complementary good consumers buy less of the complementary good and less of this good. Income (and the good is normal) consumers spend more of higher income on the good. Income (and the good is inferior) consumers spend less of their higher income on the good. preference for the good consumers are willing to buy a larger quantity of the good at every price. the expected price of the good in the future consumers buy more of the good today to avoid the higher price in the future.
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Unformatted text preview: size of consumers additional consumers result in a greater quantity demanded at every price. An Increase In Shifts The Supply Curve Because at every possible price the price of an input the costs of producing the good rise the expected future price of the product less of the good will be offered for sale today to take advantage of the higher price in the future. the price of a substitute in production more of the substitute is produced and less of the good is produced. the size of sellers additional sellers result in a greater quantity supplied at every price. the technology of production of the good the costs of producing the good fall....
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