Microeconomics微观经济学..docVIP

Microeconomics: Microeconomics is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources. Demand curve: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price. Supply curve: A graph showing the hypothetical supply of a product or service that would be available at different price points. Price elasticity of demand: Price elasticity of demand (PED or Ed) is a m