第十五章市场需要.pptxVIP

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第十五章市场需要

FromIndividualtoMarketDemandFunctionsThinkofaneconomycontainingnconsumers,denotedbyi=1,…,n.Consumeri’sordinarydemandfunctionforcommodityjis

FromIndividualtoMarketDemandFunctionsWhenallconsumersareprice-takers,themarketdemandfunctionforcommodityjis

FromIndividualtoMarketDemandFunctionsp1p1p1201535p1’p1”p1’p1”p1’p1”The“horizontalsum”

ofthedemandcurves

ofindividualsAandB.

ElasticitiesElasticitymeasuresthe“sensitivity”ofonevariablewithrespecttoanother.TheelasticityofvariableXwithrespecttovariableYis

Own-Price

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