Ec 10 lecture Section 1

Ec 10 lecture Section 1 - Ec 10 lecture Section 1 9/26/2007...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Ec 10 lecture Section 1 26/09/2007 15:11:00 Rancher buys 15 oz of Potatoes for 5 oz of Meat Price of potatoes with trade = 1 oz meat for 3 oz potatoes Price of potatoes without trade = ½ Farmer buys 5 oz of meat for 15 oz of potatoes Price of meat with trade = 3 oz of potatoes per oz of meat Demand Quantity demanded = how much an individual is ready, willing, and able to  buy (qD) Determinants of Demand Prices Income Tastes Expectations Prices of Related Goods See DEMAND CURVE TEXTBOOK Change in Price = movement along curve Change in all else = shift in curve
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/07/2008 for the course GOVERNMENT 1790 taught by Professor Paarlberg during the Spring '08 term at Harvard.

Page1 / 3

Ec 10 lecture Section 1 - Ec 10 lecture Section 1 9/26/2007...

This preview shows document pages 1 - 3. Sign up to view the full document.

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