MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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˹éÒ 83
... million tapes a week , but no tapes are supplied . The quantity demanded exceeds the quantity supplied by 9 million tapes a week . In other words , at a price of $ 1 a tape , there is a shortage of 9 million tapes a week . This shortage ...
... million tapes a week , but no tapes are supplied . The quantity demanded exceeds the quantity supplied by 9 million tapes a week . In other words , at a price of $ 1 a tape , there is a shortage of 9 million tapes a week . This shortage ...
˹éÒ 84
... tape each week ? The answer can be found on the demand curve in Fig . 4.7 - it is $ 4 a tape . If the price remains at $ 2 a tape , the quantity of tapes demanded is 6 million tapes a week - 3 million tapes more than are available . In ...
... tape each week ? The answer can be found on the demand curve in Fig . 4.7 - it is $ 4 a tape . If the price remains at $ 2 a tape , the quantity of tapes demanded is 6 million tapes a week - 3 million tapes more than are available . In ...
˹éÒ 88
... million tapes a week , we can then work out what happens if demand falls back to its original level . You can see that the fall in demand decreases the equilibrium price to $ 3 a tape and decreases the equilibrium quantity to 4 million ...
... million tapes a week , we can then work out what happens if demand falls back to its original level . You can see that the fall in demand decreases the equilibrium price to $ 3 a tape and decreases the equilibrium quantity to 4 million ...
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allocative amount average total cost benefit budget line bushels buyers calculate capital cars change in price CHAPTER choices competitive consumer surplus consumption cost curve decreases demand and supply demand curve economic economists elasticity of demand equal equilibrium example factors of production falls Figure firm's firms graph haircuts higher hour household income effect increases indifference curve industry inelastic input interest rate isocost labor Lisa Lisa's long-run lower marginal cost marginal product marginal rate marginal revenue marginal revenue product marker pens million tapes monopoly movies and soda oligopoly opportunity cost output percent perfect competition Price dollars production possibility frontier profit quantity bought quantity demanded quantity supplied rate of substitution relationship rent rises sell short-run shows six-packs slope sold supply curve Swanky tapes a week tion total revenue total utility unemployment units utility per dollar wage rate wealth workers zero