微观经济学原理曼昆英文第四章讲解学习.pptVIP

A C T I V E L E A R N I N G 2 Supply Curve 30 Draw a supply curve for tax return preparation software. What happens to it in each of the following scenarios? A. Retailers cut the price of the software. B. A technological advance allows the software to be produced at lower cost. C. Professional tax return preparers raise the price of the services they provide. THE MARKET FORCES OF SUPPLY AND DEMAND 31 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q Supply and Demand Together D S Equilibrium : P has reached the level where quantity supplied equals quantity demanded THE MARKET FORCES OF SUPPLY AND DEMAND 32 D S $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q Equilibrium price: P Q D Q S $0 24 0 1 21 5 2 18 10 3 15 15 4 12 20 5 9 25 6 6 30 the price that equates quantity supplied with quantity demanded THE MARKET FORCES OF SUPPLY AND DEMAND 33 D S $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q Equilibrium quantity: P Q D Q S $0 24 0 1 21 5 2 18 10 3 15 15 4 12 20 5 9 25 6 6 30 the quantity supplied and quantity demanded at the equilibrium price THE MARKET FORCES OF SUPPLY AND DEMAND 34 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q D S Surplus (a.k.a. excess supply): when quantity supplied is greater than quantity demanded Surplus Example: If P = $5, then Q D = 9 lattes and Q S = 25 lattes resulting in a surplus of 16 lattes THE MARKET FORCES OF SUPPLY AND DEMAND 35 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q D S Surplus (a.k.a. excess supply): when quantity supplied is greater than quantity demanded Facing a surplus, sellers try to increase sales by cutting price. This causes Q D to rise Surplus …which reduces the surplus. and Q S to fall… THE MARKET FORCES OF SUPPLY AND DEMAND 36 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 0 5 10 15 20 25 30 35 P Q D S Surplus (a.k.a. excess supply): when quantity supplied is greater than