8Chapter 3 - Supply and Demand: An IntroductionSlide 43An Increase in Quantity Supplied vs. an Increase in SupplyPrice($/can)Quantity(1000s of cans/day)5234141026S068SS’S’Increase in supplyChapter 3 - Supply and Demand: An IntroductionSlide 44The Effect on the Market for TennisBalls of a Decline in Court Rental FeesPrice($/ball)Quantity(letters/month)1.00SD40D’1.4058Chapter 3 - Supply and Demand: An IntroductionSlide 45Effect on the Market for Overnight Delivery of a Decline in the Price of Internet AccessPrice($/letter)Quantity(letters/month)P’PQ’QSDD’Chapter 3 - Supply and Demand: An IntroductionSlide 46Predicting and Explaining Changes in Prices and Quantities±Shifts in DemandzComplements²Two goods are complements in consumption if
This is the end of the preview. Sign up
access the rest of the document.
This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.