CHAPTER 4. Individual and market demand. Outcomes. Derive individual demand curve Effect of change in price and income on the demand curve Market demand curve Consumer surplus Effects of network externalities. CHANGES IN EQUILIBRIUM. How does the equilibrium position change if:
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Individual and market demand
How does the equilibrium position change if:
1. Consumer’s income change
2. Price of one of the goods change
Example: NEW clothing, NEW car, NEW computer.
Example: USED clothing, USED car, USED computer i.e. income and quantity.