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经济学原理-曼昆第七版第四讲讲义:Supply-and-Demand.ppt

经济学原理-曼昆第七版第四讲讲义:Supply-and-Demand.ppt

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经济学原理-曼昆第七版第四讲讲义:Supply-and-Demand.ppt

Table 4 What Happens to Price and Quantity When Supply or Demand Shifts? As a quick quiz, make sure you can explain at least a few of the entries in this table using a supply-and-demand diagram. * How Prices Allocate Resources Supply and demand together Determine the prices of the economy’s many different goods and services * “Two dollars” “—and seventy-five cents.” How Prices Allocate Resources Prices Signals that guide the allocation of resources Mechanism for rationing scarce resources Determine who produces each good and how much is produced * Two ways to reduce the quantity of smoking demanded Try to raise the price of cigarettes Tax the manufacturer: higher price Movement along demand curve 10% ↑ in price → 4% ↓ in smoking Teenagers: 10% ↑ in price → 12% ↓ in smoking Demand for cigarettes vs. demand for marijuana Appear to be complements * Figure 4 Shifts in the Demand Curve versus Movements along the Demand Curve Price of Cigarettes, per Pack Number of Cigarettes Smoked per Day 0 D1 D2 A policy to discourage smoking shifts the demand curve to the left 10 20 $2.00 B A (a) A Shift in the Demand Curve If warnings on cigarette packages convince smokers to smoke less, the demand curve for cigarettes shifts to the left. In panel (a), the demand curve shifts from D1 to D2. At a price of $2.00 per pack, the quantity demanded falls from 20 to 10 cigarettes per day, as reflected by the shift from point A to point B. By contrast, if a tax raises the price of cigarettes, the demand curve does not shift. Instead, we observe a movement to a different point on the demand curve. In panel (b), when the price rises from $2.00 to $4.00, the quantity demanded falls from 20 to 12 cigarettes per day, as reflected by the movement from point A to point C. Price of Cigarettes, per Pack Number of Cigarettes Smoked per Day 0 D1 A tax that raises the price of cigarettes results in a movement along the demand curve 12 20 2.00 C A (b) A Movement along the Demand Curve $4.00 * Deman

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