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    Managerial Economics in A Global Economy: Chapter 1: Appendix The Basics of Demand, Supply, and Equilibrium

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    Ayu Kusuma Wardhani
    The document discusses the basics of supply, demand and market equilibrium including the laws of supply and demand and how equilibrium is determined by the intersection of supply and demand curves. It also addresses how equilibrium changes with shifts in supply or demand.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    Managerial Economics in A Global Economy: Chapter 1: Appendix The Basics of Demand, Supply, and Equilibrium

    Uploaded by

    Ayu Kusuma Wardhani
    68 views19 pages
    The document discusses the basics of supply, demand and market equilibrium including the laws of supply and demand and how equilibrium is determined by the intersection of supply and demand curves. It also addresses how equilibrium changes with shifts in supply or demand.

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    ekonomi manajerial

    Original Title

    Ch01a ekonomi manajerial

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    © Attribution Non-Commercial (BY-NC)

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    The document discusses the basics of supply, demand and market equilibrium including the laws of supply and demand and how equilibrium is determined by the intersection of supply and demand curves. It also addresses how equilibrium changes with shifts in supply or demand.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    68 views19 pages

    Managerial Economics in A Global Economy: Chapter 1: Appendix The Basics of Demand, Supply, and Equilibrium

    Uploaded by

    Ayu Kusuma Wardhani
    The document discusses the basics of supply, demand and market equilibrium including the laws of supply and demand and how equilibrium is determined by the intersection of supply and demand curves. It also addresses how equilibrium changes with shifts in supply or demand.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 19

    Managerial Economics in a Global Economy

    Chapter 1: Appendix The Basics of Demand, Supply, and Equilibrium

    PowerPoint Slides by Robert F. Brooker

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Law of Demand
    A decrease in the price of a good, all other things held constant, will cause an increase in the quantity demanded of the good. An increase in the price of a good, all other things held constant, will cause a decrease in the quantity demanded of the good.
    PowerPoint Slides by Robert F. Brooker Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Quantity Demanded


    Price An increase in price causes a decrease in quantity demanded.

    P1
    P0

    Q1
    PowerPoint Slides by Robert F. Brooker

    Q0

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Quantity Demanded


    Price A decrease in price causes an increase in quantity demanded.

    P0

    P1
    Q0
    PowerPoint Slides by Robert F. Brooker

    Q1

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Changes in Demand
    Change in Buyers Tastes Change in Buyers Incomes
    Normal Goods Inferior Goods

    Change in the Number of Buyers Change in the Price of Related Goods


    Substitute Goods Complementary Goods
    PowerPoint Slides by Robert F. Brooker Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Demand
    Price

    An increase in demand refers to a rightward shift in the market demand curve.

    P0

    Q0
    PowerPoint Slides by Robert F. Brooker

    Q1

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Demand
    Price

    A decrease in demand refers to a leftward shift in the market demand curve.

    P0

    Q1
    PowerPoint Slides by Robert F. Brooker

    Q0

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Law of Supply
    A decrease in the price of a good, all other things held constant, will cause a decrease in the quantity supplied of the good. An increase in the price of a good, all other things held constant, will cause an increase in the quantity supplied of the good.
    PowerPoint Slides by Robert F. Brooker Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Quantity Supplied


    Price

    A decrease in price causes a decrease in quantity supplied.

    P0
    P1

    Q1
    PowerPoint Slides by Robert F. Brooker

    Q0

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Quantity Supplied


    Price

    An increase in price causes an increase in quantity supplied.

    P1
    P0

    Q0
    PowerPoint Slides by Robert F. Brooker

    Q1

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Changes in Supply
    Change in Production Technology Change in Input Prices Change in the Number of Sellers

    PowerPoint Slides by Robert F. Brooker

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Supply
    Price An increase in supply refers to a rightward shift in the market supply curve.

    P0

    Q0
    PowerPoint Slides by Robert F. Brooker

    Q1

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Change in Supply
    Price A decrease in supply refers to a leftward shift in the market supply curve.

    P0

    Q1
    PowerPoint Slides by Robert F. Brooker

    Q0

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Market equilibrium is determined at the intersection of the market demand curve and the market supply curve. The equilibrium price causes quantity demanded to be equal to quantity supplied.

    PowerPoint Slides by Robert F. Brooker

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Price
    D S

    Q
    PowerPoint Slides by Robert F. Brooker

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Price
    D0 P1 P0 D1 S0 An increase in demand will cause the market equilibrium price and quantity to increase.

    Q0 Q1
    PowerPoint Slides by Robert F. Brooker

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Price
    D1 P0 P1 D0 S0 A decrease in demand will cause the market equilibrium price and quantity to decrease.

    Q1 Q0
    PowerPoint Slides by Robert F. Brooker

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Price
    D0 S0 S1

    P0 P1

    An increase in supply will cause the market equilibrium price to decrease and quantity to increase.

    Q0 Q1
    PowerPoint Slides by Robert F. Brooker

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

    Market Equilibrium
    Price
    D0 S1 S0

    P1 P0

    A decrease in supply will cause the market equilibrium price to increase and quantity to decrease.

    Q1 Q0
    PowerPoint Slides by Robert F. Brooker

    Quantity

    Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.

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