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Austan Goolsbee, Steven Levitt, Chad Syverson

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Presentation on theme: "Austan Goolsbee, Steven Levitt, Chad Syverson"— Presentation transcript:

1 Austan Goolsbee, Steven Levitt, Chad Syverson
Microeconomics First Edition Chapter 2 Supply and Demand Copyright © 2013 by Worth Publishers

2 Table 2.1 The Four Key Assumptions Underlying the Supply and Demand Model Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

3 Figure 2.1 Demand for Tomatoes Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

4 Figure 2.2 Shifts in the Demand Curve Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

5 Figure 2.3 Prevalence of Smoking by Education Category in the United States, Age 25 and Older, 1940–2000 Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

6 Figure 2.4 Supply of Tomatoes Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

7 Figure 2.5 Shifts in the Supply Curve Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

8 Figure 2.6 Market Equilibrium Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

9 Figure 2.7 Why Pe Is the Equilibrium Price Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

10 Figure 2.8 Effects of a Fall in the Demand for Tomatoes Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

11 Figure 2.9 Effects of an Increase in the Supply of Tomatoes Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

12 Table 2.2 Effect of Shifts in Demand and Supply Curves in Isolation Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

13 Figure Effects of an Increase in the Supply of Video Games Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

14 Figure Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

15 Figure 2.11 (a) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

16 Figure 2.11 (b) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

17 Figure 2.11 (c) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

18 Figure 2.11 (d) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

19 Figure Population Indices for New York and Houston, 1977–2009 Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

20 Figure Housing Price Indices for New York and Houston, 1977–2009 Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

21 Figure Example of a Simultaneous Shift in Demand and Supply Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

22 Figure When Both Curves Shift, the Direction of Either Price or Quantity Will Be Ambiguous Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

23 Figure Elasticity of a Linear Demand Curve Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

24 Figure Elasticity of a Linear Supply Curve Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

25 Figure Perfectly Inelastic and Perfectly Elastic Demand Curves Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers

26 Figure Expenditures along a Linear Demand Curve Goolsbee, Levitt, Syverson: Microeconomics, First Edition Copyright © 2013 by Worth Publishers


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