MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... increase , we know that the quantity increases , but we cannot predict whether the price rises or falls . To make such a prediction , we need to know the relative magnitude of the increase in demand and supply . If demand increases and ...
... increase , we know that the quantity increases , but we cannot predict whether the price rises or falls . To make such a prediction , we need to know the relative magnitude of the increase in demand and supply . If demand increases and ...
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... increase ( decrease ) in income The percentage increase ( decrease ) in the quantity demanded is less than the percentage increase ( decrease ) in income When income increases ( decreases ) , quantity demanded decreases ( increases ) ...
... increase ( decrease ) in income The percentage increase ( decrease ) in the quantity demanded is less than the percentage increase ( decrease ) in income When income increases ( decreases ) , quantity demanded decreases ( increases ) ...
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... increase in income shifts the budget line outward , with its slope unchanged . It will be clear to you that , as income increases , a person can consume more of all goods . But being able to consume more of all goods does not mean that ...
... increase in income shifts the budget line outward , with its slope unchanged . It will be clear to you that , as income increases , a person can consume more of all goods . But being able to consume more of all goods does not mean that ...
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amount average benefit budget calculate called capital cars CHAPTER choices cloth competitive consumer consumption corn cost curve countries decreases demand curve depends determined dollars economic effect elasticity elasticity of demand equal equilibrium example expected Explain factor falls Figure firms future given graph higher hour household illustrates important income increases individual industry input interest labor less long-run look loss lower marginal cost marginal revenue marginal utility measured million monopoly month opportunity cost output percent percentage person possible preferences problem production profit quantity demanded questions regulation relationship rent result rises scale sell shifts short-run shown shows slope soda sold substitution supply curve sweaters tapes theory things tion total cost trade units utility variable wage wage rate wealth week workers