microeconomicdemandandsupply-預(yù)覽頁(yè)
【正文】 good rises, current demand for the good increases and the demand curve shifts rightward. Ine When ine increases, consumers buy more of most goods and the demand curve shifts rightward. A normal good is one for which demand increases as ine increases. An inferior good is a good for which demand decreases as ine increases. Demand 169。 2020 Pearson AddisonWesley Movement Along the Demand Curve When the price of the good changes and everything else remains the same, the quantity demanded changes and there is a movement along the demand curve. Demand 169。 and the lower the price of a good, the smaller is the quantity supplied. The law of supply results from the general tendency for the marginal cost of producing a good or service to increase as the quantity produced increases (Chapter 2, page 35). Producers are willing to supply a good only if they can at least cover their marginal cost of production. Supply 169。 2020 Pearson AddisonWesley A Change in Supply When some influence on selling plans other than the price of the good changes, there is a change in supply of that good. The quantity of the good that producers plan to sell changes at each and every price, so there is a new supply curve. When supply increases, the supply curve shifts rightward. When supply decreases, the supply curve shifts leftward. Supply 169。 2020 Pearson AddisonWesley Expected Future Prices If the expected future price of a good rises, the supply of the good today decreases and the supply curve shifts leftward. The Number of Suppliers The larger the number of suppliers of a good, the greater is the supply of the good. An increase in the number of suppliers shifts the supply curve rightward. Supply 169。 2020 Pearson AddisonWesley Movement Along the Supply Curve When the price of the good changes and other influences on sellers’ plans remain the same, the quantity supplied changes and there is a movement along the supply curve. Supply 169。 2020 Pearson AddisonWesley If the price is $ a bar, the quantity demanded exceeds the quantity supplied. There is a shortage of 9 million energy bars. If the price is $ a bar, the quantity demanded equals the quantity supplied. There is neither a shortage nor a surplus of energy bars. Market Equilibrium 169。 2020 Pearson AddisonWesley All Possible Changes in Demand and Supply A change demand or supply or both demand and supply changes the equilibrium price and the equilibrium quantity. Predicting Changes in Price and Quantity 169。 2020 Pearson AddisonWesley When supply decreases, the equilibrium price rises and the equilibrium quantity decreases. Predicting Changes in Price and Quantity 169。 2020 Pearson AddisonWesley Increase in Demand and Decrease in Supply An increase in demand and a decrease in supply raises the equilibrium price. The change in equilibrium quantity is uncertain because the increase in demand increases the equilibrium quantity and the decrease in supply decreases it. Predicting Changes in Price and Quantity
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