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Chapter Three: Supply and Demand
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The Theory of Supply
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Table 3.1: Supply Schedule for Cups of Coffee
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Figure 3.1: Supply Curve for Cups of Coffee
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Figure 3.2: An Increase in Supply
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Figure 3.3: A Decrease in Supply
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The Theory of Demand
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Table 3.2: Demand Schedule for Cups of Coffee
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Figure 3.4: Demand Curve for Cups of Coffee
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Figure 3.5: An Increase in Demand
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Figure 3.6: A Decrease in Demand
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The Theory of Market Adjustment
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Figure 3.7: The Market Adjustment Process
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Figure 3.8: Market Equilibrium
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Figure 3.9: Market Adjustment to an Increase in Supply
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Figure 3.10: Market Adjustment to an Increase in Demand
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Table 3.3: Summary of the Market Effects of Shifts in Supply and Demand
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Figure 3.11: Market Adjustment with an Increase in Both Supply and Demand
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Table 3.4: Summary of the Market Effects When Both Supply and Demand Shift
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