Engineering Economics Analysis: Supply & Demand Solutions | Microeconomics | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

Sec Se tito i n o n 2 SUPPLY AND DEMAND Demand Supply Equilibrium Changes in equilibrium Efficiency of markets De D m e a m n a d n ▪ ▪ ▪ ▪ 1 Rep Re r p es e en e ting n d ting e d m e a m n a d n Price Quantity (dollars (bottles per bottle) per day) 𝑄𝐷 =𝑓(𝑃) A 2.00 0 𝑄𝐷 = 𝑎 −𝑏𝑃 B 1.50 1 C 1.00 2 D 0.50 3 2 Law La o w f de f m de a m nd a 𝑷↑→𝑸𝑫 ↓ 𝑷↓→𝑸𝑫 ↑ 3 Mar Ma ke r t ke tde m de a m n a d n Price (dollars per Price (dollars per Price (dollars per bottle) bottle) bottle) Quantity Quantity Quantity (bottles per day) (bottles per day) (bottles per day) 4 Fac a t c or t s i s m i pa m c pa t c itng i ng o n o n d e d m e a m n a d n 𝑃𝑋,𝑌) 𝑁𝐷 5 Inc I om nc e om e ( I ( ) I 𝑰↑→𝑫↑( 𝑰↓→𝑫↓(
𝑰↑→𝑫↓(shifttotheleft) 𝑰↓→𝑫↑ ( 6 Pri Pr c i e c e o f rel e a l t a e t d e g d o g o o d o s d 𝑷𝑿 ↑→𝑫𝒀 ↑ 𝑷𝑿 ↑→𝑫𝒀 ↓ 7 Fac a t c or t s i s m i pa m c pa t c itng i ng o n o n d e d m e a m n a d n 8 Supply 9 Re R pr e es e ent e i nt ng i s ng upp s l upp y l Price (dollars per bottle) Price Quantity 2.05 𝑄𝑆 =𝑓(𝑃) (dollars per supplied bottle) (thousands 2.00 of bottles A per day) 1.50 A 2.00 3 Supply 𝑄 B 𝑆 = 𝑎 +𝑏𝑃 Curve B 1.50 2 1.00 C 1.00 1 C D 0.50 0 0.50 D 0 1 2 3 4 Quantity (thousands of bottles per day) 10 Law La o w f s f uppl s y uppl P S 𝑷↑→𝑸 E 𝑺 ↑ 𝑷↓→𝑸𝑺 ↓ D C B A Q 11 Mar Ma ke r t ke ts u s p u p p l p y l Nam’s Q Ha’s Q 12 De D t e e t r e m r i m n i a n n a t n s t of s f uppl s y 13 De D t e e t r e m r i m n i a n n a t n s t of s f uppl s y 14 Numb N e umb r e r o f s f e s l e le l r e s (N s s (N ) s 𝑆3 𝑆1 𝑆2 𝑁𝑠 𝑁𝑠 15 Equil Equi ilb i r b i r um i $15.00 C F $10.00 E A B $5.00 D 250 500 700 16 Equil Equi ilb i r b i r um i • • • • 17 Sel Se f- f a - dj a u dj s u t s m t e m n e t n tm e m c e h c a h nis ni m s • • • • • • 18 Cha C n ha g n e g s i s n e i qui n e l qui ilb i r b i r u i m u 19 Cha C n ha g n e g s i s n e i qui n e l qui ilb i r b i r u i m u – 20 Eff Ef i f c i i c e i n e c n y c of m f a m r a ke r t ke ▪ ▪ 21 Cons C um ons er e s r ur s pl ur u pl s u s ( C ( S C ) S P CS PE Q 22 Produce uc r e s r ur s pl ur u pl s u s ( P ( S P ) S P seller’s PE PS Q 23 Mar Ma ke r t ke te f e f f i f c i i c e i n e cy c P CS PE PS Q 24