中级微观经济学chap004

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1、SupplyandDemandChapter4LaugherCurveQ.WhatdoyougetwhenyoucrosstheGodfatherwithaneconomist?A.Anofferyoucan'tunderstand.DemandDemandmeansthewillingnessandcapacitytopay.DemandPricesarethetoolsbywhichthemarketcoordinatesindividualdesires.TheLawofDemandQuantitydemandedrisesasprice

2、falls,otherthingsconstant.Quantitydemandedfallsaspricesrise,otherthingsconstant.Thus,thereisaninverserelationshipbetweenpriceandquantitydemanded.TheLawofDemandWhataccountsforthelawofdemand?PeopletendtosubstituteforgoodswhosepricehasgoneupTheDemandCurveThedemandcurveisthegrap

3、hicrepresentationofthelawofdemand.Thedemandcurveslopesdownwardandtotheright.Asthepricegoesup,thequantitydemandedgoesdown.TheDemandCurveTheslopetellsusthatquantitydemandedvariesindirectly—intheoppositedirection—withprice.OtherThingsConstantOtherthingsconstantmeansthatallother

4、factorsthataffecttheanalysisareassumedtoremainconstant,whethertheyactuallyremainconstantornot.Thesefactorsmayincludechangingtastes,pricesofothergoods,eventheweather.DPrice(perunit)0Quantitydemanded(perunitoftime)PAQAAASampleDemandCurveShiftsinDemandVersusMovementsAlongaDeman

5、dCurveDemandreferstoascheduleofquantitiesofagoodthatwillbeboughtperunitoftimeatvariousprices,otherthingsconstant.Graphically,itreferstotheentiredemandcurve.ShiftsinDemandVersusMovementsAlongaDemandCurveQuantitydemandedreferstoaspecificamountthatwillbedemandperunitoftimeatasp

6、ecificprice.Graphically,itreferstoaspecificpointonthedemandcurve.ShiftsinDemandVersusMovementsAlongaDemandCurveAmovementalongademandcurveisthegraphicalrepresentationoftheeffectofachangeinpriceonthequantitydemanded.ShiftsinDemandVersusMovementsAlongaDemandCurveAshiftindemandi

7、sthegraphicalrepresentationoftheeffectofanythingotherthanpriceondemand.Theoriginalcurvewillmovetotherightortotheleft.ChangeinQuantityDemanded0D1Changeinquantitydemanded(amovementalongthecurve)BPrice(perunit)Quantitydemanded(perunitoftime)100$2$1200AD0D1ShiftinDemandPrice(per

8、unit)Quantitydemanded(perunitoftime)100$2$1200BAChangeindemand(ashiftofthec