北京北京大学中级微观经济学课件Ch15英文.pptVIP

Chapter Fifteen Market Demand From Individual to Market Demand Functions Think of an economy containing n consumers, denoted by i = 1, … ,n. Consumer i’s ordinary demand function for commodity j is From Individual to Market Demand Functions When all consumers are price-takers, the market demand function for commodity j is If all consumers are identical then where M = nm. From Individual to Market Demand Functions The market demand curve is the “horizontal sum” of the individual consumers’ demand curves. E.g. suppose there are only two consumers; i = A,B. From Individual to Market Demand