[經(jīng)濟(jì)學(xué)]ch16equilibrium(已修改)
2024-10-31 02:20 本頁面
【正文】 Chapter Sixteen Equilibrium Market Equilibrium ?A market is in equilibrium when total quantity demanded by buyers equals total quantity supplied by sellers. Market Equilibrium p D(p) q=D(p) Market demand Market Equilibrium p S(p) Market supply q=S(p) Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* q* Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* q* D(p*) = S(p*)。 the market is in equilibrium. Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* S(p’) D(p’) S(p’)。 an excess of quantity supplied over quantity demanded. p’ D(p’) Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* S(p’) D(p’) S(p’)。 an excess of quantity supplied over quantity demanded. p’ D(p’) Market price must fall towards p*. Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* D(p”) D(p”) S(p”)。 an excess of quantity demanded over quantity supplied. p” S(p”) Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p) p* D(p”) D(p”) S(p”)。 an excess of quantity demanded over quantity supplied. p” S(p”) Market price must rise towards p*. Market Equilibrium ?Can we calculate the market equilibrium using the inverse market demand and supply curves? Market Equilibrium ?Can we calculate the market equilibrium using the inverse market demand and supply curves? ?Yes, it is the same calculation. Market Equilibrium ?Two special cases: ?quantity supplied is fixed, independent of the market price, and ?quantity supplied is extremely sensitive to the market price. Market Equilibrium Market quantity supplied is fixed, independent of price. p q q* Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q q* = c Market quantity supplied is fixed, independent of price. Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q q* = c D1(q) = (aq)/b Market demand Market quantity supplied is fixed, independent of price. Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q p* D1(q) = (aq)/b Market demand q* = c Market quantity supplied is fixed, independent of price. Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q p* = (ac)/b D1(q) = (aq)/b Market demand q* = c p* = D1(q*)。 that is, p* = (ac)/b. Market quantity supplied is fixed, independent of price. Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q D1(q) = (aq)/b Market demand q* = c p* = D1(q*)。 that is, p* = (ac)/b. p* = (ac)/b Market quantity supplied is fixed, independent of price. p a cb d* ? ??q ad bcb d* ? ??Market Equilibrium S(p) = c+dp, so d=0 and S(p) ? c. p q D1(q) = (aq)/b Market demand q* = c p* = D1(q*)。 that is, p* = (ac)/b. p a cb d* ? ??q ad bcb d* ? ??with d = 0 give p a cb* ? ?q c* .? p* = (ac)/b Market quantity supplied is fixed, independent of price. Market Equilibrium ?Two special cases are ?when quantity supplied is fixed, independent of the market price, and ?when quantity supplied is extremely sensitive to the market price. ? Market Equilibrium Market quantity supplied is extremely sensitive to
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