Properties of Demand Functions Comparative statics analysis(比较 静态分析) of ordinary demand functions the study of how ordinary demands *(p,P2,y) and x2*(p1,P2,y) change as prices p1, P2 and income y change
Equilibrium price. Equilibrium allocation: x=xi(p,p·w2), Note: A p* for any >0 is also an equilibrium price. Offer curve: (p)(p, p. w;). The equilibrium is the intersection point of the offer curves. Excess demand function: