清华大学中级微观经济学讲义16课件.pptVIP

/Chapter Sixteen Equilibrium What Do We Do in This Chapter? We study the concept of equilibrium We will study external changes to equilibrium Market Equilibrium A market is in equilibrium when total quantity demanded by buyers equals total quantity supplied by sellers. Market Equilibrium 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 Equilibrium Quantity Taxes A quantity tax levied at a rate of $t is a tax of $t paid on each unit traded. If the tax is