2 the basics of supply and demand
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เฉลยแบบฝึกหัดเตรียมความพร้อมก่อนเรียน บทที่ 2 The Basics of Supply and Demand. Q&A: Supply & Demand. Q1. การที่ Supply เลื่อนระดับดังภาพ เกิดขึ้นเนื่องจากสาเเหตุใดบ้าง ?. A: Input Prices Technology Expectations Weather. Q2. ขอให้แสดง สมการ ของ Supply ?. A: Q s = Q s (P)

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เฉลยแบบฝึกหัดเตรียมความพร้อมก่อนเรียน บทที่ 2 The Basics of Supply and Demand

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2 the basics of supply and demand

2 The Basics of Supply and Demand


Q1 supply

Q&A: Supply & Demand

Q1. Supply ?

  • A:

    • Input Prices

    • Technology

    • Expectations

    • Weather

Q2. Supply ?

A: Qs= Qs (P)

Qs= f(P,w,)


Q3 demand

Q&A: Supply & Demand

Q3. Demand ?

  • A:

    • Income

    • Price of Related Goods

    • Expectations

    • Tastes

Q4. Demand ?

A: QD= QD(P)

Qx = f(Px, Py, I, ..)


2 the basics of supply and demand

Q&A: Supply & Demand

Q5. DemandQx = f(-Px, -Py, Pz, I, ..) 5.1 X ? 5.2 X Y ? ? ? 5.3 X Z ? ? ?

A: X (Normal Good) ....

A: Y X

X Y (Complements)

A: Z X

X Z (Substitutions)


2 the basics of supply and demand

Q&A: Supply & Demand

Q6. Demand X ?Qx = f(-Px, -I, ..)

A: X (Inferior Good ) ....


2 the basics of supply and demand

: Demand

  • Income

    • Normal Good

    • Inferior Good

  • Price of related goods

    • Substitutes

    • Complements

  • Expectations

  • Tastes


  • 2 the basics of supply and demand

    2) The Market Mechanism


    2 the basics of supply and demand

    Q&A: Equilibrium

    Q7. P1 ?

    A:


    2 the basics of supply and demand

    S

    Surplus

    P0

    Shortage

    D

    Q0

    A7.

    => excess demand or excess supply

    (/)

    P1

    E

    P2

    ()

    Figure: Supply and Demand.


    2 the basics of supply and demand

    3) Changes in Market Equilibrium


    2 the basics of supply and demand

    S

    S

    P2

    P1

    D

    D

    Q1

    Q2

    Q8. ?

    A8.

    ( /)

    ()

    Figure: New Equilibrium Following Shift in Demand and Supply.


    2 the basics of supply and demand

    : Changes in Market Equilibrium

    • 3 Steps

    • DS

    • (-)


    2 the basics of supply and demand

    Q9. (Elasticity) ?

    ( Price elasticity of demand)

    ( Price elasticity of demand)

    ( Cross-price elasticity of demand)

    (Price elasticity of supply)

    Q10. ?


    2 the basics of supply and demand

    A9.

    4) Elasticities of Supply and Demand

    (Elasticity)

    Percentage change in one variable resulting from a 1-percent increase in another

    ( Price elasticity of demand : Ep)

    Percentage change in quantity demanded of good resulting from a 1-percent increase in its price

    Ep = (%Q)/(% P)


    2 the basics of supply and demand

    4) Elasticities of Supply and Demand

    Q

    Q

    x 100

    %Q Q =

    P

    P

    %P P =

    x 100

    Ep = (%Q)/(% P)


    2 the basics of supply and demand

    4) Elasticities of Supply and Demand

    • Price Inelastic

    Ep < or = 1

    • Price Elastic

    Ep >1

    • Linear Demand Curve

    Q = a - bP

    Q = 8 - 2P


    2 the basics of supply and demand

    Ep = _

    Ep = _1

    2

    Ep = 0

    4

    A10.

    (/)

    Q = 8 - 2P

    4

    ()

    8

    Figure: Linear Demand Curve.


    2 the basics of supply and demand

    D

    P*

    A11.

    (/)

    Q11. ? ()

    ()

    Figure: Infinitely Elastic Demand.


    2 the basics of supply and demand

    D

    Q*

    Q12. 0 ? ()

    A12.

    (/)

    ()

    Figure:Completely Inelastic Demand.


    2 the basics of supply and demand

    Q13: ?

    A13.

    • ()

    • -

      -

    • EpD


    2 the basics of supply and demand

    4) Elasticities of Supply and Demand

    (Price elasticity of demand)

    Percentage change in quantity demanded of

    good resulting from a 1-percent increase

    in income


    2 the basics of supply and demand

    4) Elasticities of Supply and Demand

    ( Cross-price elasticity of demand)

    Percentage change in quantity demanded

    of one good resulting from a 1-percent

    increase in the price of another


    2 the basics of supply and demand

    4) Elasticities of Supply and Demand

    (Price elasticity of supply)

    Percentage change in quantity supplied of good resulting from a 1-percent increase in its price

    EpS = (%Qs)/(% P)


    2 the basics of supply and demand

    Q14: ?

    A14.

    • =>


    2 the basics of supply and demand

    2

    2

    1. D & S Supply: QS = 1800 + 240P

    Demand: QD= 3550 - 266P

    . P Q PE , QE ()

    . D S .

    ?


    2 the basics of supply and demand

    (3.46)

    • QD=QS PE

    • P D or S QE

    • D

    (2,630)

    (-0.35)

    • S

    (0.32)


    2 the basics of supply and demand

    2

    1. D & S Supply: QS = 1800 + 240P

    Demand: QD= 3550 - 266P

    . P Q PE , QE ()

    . D S .

    ?

    4 D


    2 the basics of supply and demand

    2

    • 2. Demand Supply

      • S: QS = 4 + 4P

  • D: QD = 28 - 2P

  • .

  • ()

  • . 5


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