微观经济ch04解读.pptVIP

* * * * * * * * * * * * * * * * * * * * “Non-price determinants of supply” simply means the things – other than the price of a good – that determine sellers’ supply of the good. * * * * * * * * * * * * * * * * * * We now return to the latte example to illustrate the concepts of equilibrium, shortage and surplus. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * THE MARKET FORCES OF SUPPLY AND DEMAND * STEP 3, cont. P Q D1 S1 P1 Q1 S2 D2 P2 Q2 EVENTS: price of gas rises AND new technology reduces production costs But if supply increases more than demand, P falls. A C