The Market Forces of Supply and Demand Supply and Demand are the two wordsthat economists use most often. Supply and Demand are the forces thatmake market economies work. Modern microeconomics is about supply,demand and equilibrium
The Market Forces of Supply and Demand Supply and demand are the two words that economists use most often. Supply and demand are the forces that make market economies work. Modern microeconomics is about supply, demand, and market equilibrium
第一节 需求和需求曲线 Demand and Demamd Curve 第二节 供给和供给曲线 Supply and Supply curve 第三节 供给与需求的均衡 Equilibrium of Supply and Demand 第四节 均衡价格理论的运用 Application of Equilibrium Price Theory
Structure Market supply Short-run- supply and equilibrium Long -run- supply and equilibrium Long -run- implications for taxation Fixed inputs and economic rent(经济租金)
Chapter 6 presents the supply side of the market using an approach parallel to that of the demand side of the market in Chapter 5. The chapter presents the material in a way that illustrates the second core principle of the textbook, that marginal benefits should equal marginal costs Chapter 5 presents the demand curve as derived from marginal benefit and Chapter 6 presents the supply curve as derived from marginal costs
Structure Market environments Market demand for a competitive firm Short-run- supply decision Upward sloping MC curve Shut- down condition Long -run- supply decision Comparing long-run- and short--run decisions Producer's' surplus and profits
1. The equilibrium price of a good is determined by the intersection of its supply and demand curves. We can know everything about a goods cost of production( that, is we can know its supply exactly) yet still not know where the demand curve will intersect the supply curve
