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Ch02.pptDemand, Supply, and Equilibrium Prices
Chapter 2
Chapter
© 2014 Pearson Education, Inc.
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.1 Demand Function.
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Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.1 The Demand Curve for a Product.
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.2 Change (Increase) in Demand
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.3 Individual Versus Market Demand Curve
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.2 Mathematical Example of a Demand Function.
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.3 Mathematical Example of a Demand Function.
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.4 Supply Function.
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.4 The Supply Curve for a Product
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.5 Change (Increase) in Supply
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.5 Mathematical Example of a Supply Function
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.6 Mathematical Example of a Supply Function
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
TABLE 2.1 Factors Influencing Market Demand and Supply
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.6 Market Equilibrium
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.7 A Lower-Than-Equilibrium Price
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.8 A Higher-Than-Equilibrium Price
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.3 & 2.6 Mathematical Example of Equilibrium
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.7 Mathematical Example of Equilibrium
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.9 Change in Demand
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.10 Change in Supply
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.11 Decrease in Supply and Increase in Demand: Increase in Equilibrium Quantity
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.12 Decrease in Supply and Increase in Demand: Decrease in Equilibrium Quantity
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.13 Increase in Supply and Increase in Demand: Lower Equilibrium Price
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.14 Increase in Supply and Increase in Demand: Higher Equilibrium Price
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.8 Mathematical Example of an Equilibrium Change
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.9 Mathematical Example of an Equilibrium Change
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
EQUATION 2.10 Mathematical Example of an Equilibrium Change
Chapter 2 Demand, Supply, and Equilibrium Prices
© 2014 Pearson Education, Inc.
FIGURE 2.15 Copper Industry Example
