262013-7-22
?Change in Supply
Price ofice-creamcone
S3S1Decreasein supplyIncreasein supplyS20双语教学示范课程
Quantity ofice-cream cones汪艳经济管理学院
272013-7-22
Change in Supply
?A shift in the supply curve, either to
the left or right.
?Caused by any change that alters the quantity supplied?at every price.With constant price.
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Input pricesTechnologyExpectations Number of sellers
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PP0Q0Q汪艳
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Market Supply & Individual Supply
PPPP1P1P10Q1Q0Q2Q0Q1+Q2Q?Market supply refers to the sum of all individual supplies
for all sellers of a particular good or service.
?Graphically, individual supply curves are summed horizontallyto obtain the market supply curve.
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ⅡSUPPLY AND DEMAND
22013-7-22
?The Market Forces of Supply and Demand?Elasticity and Its Applications?Supply, Demand, and Government Policies汪艳
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Case:
1967年，一场大暴雪使得芝加哥市区的交通瘫痪，外面的生活必需品难以进入，当时还是大学学生的詹姆斯在住所附近有两家杂货店，一家杂货店慈悲为怀，坚持在大雪天对店内商品不涨价，其店中的商品很快被抢购一空，因为如此低的价格难以使其以高价向外界继续采购新的商品，这家店很快就关门大吉。另外一家杂货店则将所有的商品和价格暂时提高到原来的两倍，同时这家杂货店的老板出高价请当地的孩子乘雪橇从外地运进当地市民需要的各种商品。涨价的杂货店因为能够支付较高的雇佣雪橇拉货的成本，一直在雪暴过程中保证了对居民的基本供应，同时高的价格也自然促使居民根据新的价格状况理调整自己的购买行为，将自己采购的物品控制在能够承担的、也是必需的范围内。
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DemandSupplySupplyandDemandTogether汪艳
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Demand
quantity demanded:the amount of a good
that buyers are willing and able topurchase.
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Price ofIce-Cream
Cone$3.00
F1. Anincrease in price ...2.502.00
ED1.501.00
CB●0.50
A123456789101112Quantity ofIce-Cream Cones02. ...increases quantity of cones supplied.双语教学示范课程
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law of supply:
the claim that, other things equal, the quantity supplied of a good rises (falls) when the price of the good rises (falls).
Quantity supplied ispositively relatedto price.Exception:
P
PP0
Q0Q0汪Q艳
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Shifts in the Supply Curve
?Change in Quantity Supplied ?Change in Supply汪艳
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242013-7-22
?Change in Quantity Supplied
Price of ice-cream cones
S$3.00
B1.00
A01
5
Quantity of
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双语教学示范课程
ice-cream cones
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Change in Quantity Supplied
?Movement alongthe supply curve. ?Caused by a change in the price of the good.
?With other things equal.
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?
112013-7-22
Change in Quantity Demanded?Movement alongthe demand curve.?Caused by a change in the price of the good.
?With other things equal.
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?Change in Demand
Price ofice-creamconeIncrease in demandDecreasein demandD2D1D30Quantity of 汪艳双语教学示范课程
ice-cream cones
经济管理学院132013-7-22
Change in Demand
?A shift in the demand curve, either to the left or right.?Caused by any changethat alters the quantity demanded at every price.
?With constant price.
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?142013-7-22
??Consumer income?Prices of related goods?Tastes (Preference)?Expectations
?Number of buyersDemographic effect
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152013-7-22
The relationship between income and quantity demandeddepends on what type of good the product is.
?normal goods
Other things equal, an increase in income leads to an increase in demand.?inferior goods
Other things equal, an increase in income leads to a decrease in demand.
Not bad goods.
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?Substitutes
Two goods for which an increase (a decrease) in the price of one good leads to an increase (a decrease) in the demand for the other.?Complements
Two goods for which an increase (a decrease)in the price of one good leads to a decrease (an increase) in the demand for the other.?Independent goods
Two goods for which an increase or a decrease in the price of one good has nothing to do with the demand for the other.
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172013-7-22
P0Q
0Q汪艳
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P182013-7-22
Market Demand & Individual Demand
PPPP1P1P10Q1Q0Q2Q0Q1+Q2Q?Market demand refers to the sum of all individual demands for a particular good or service.
?Graphically, individual demand curves are summed horizontallyto obtain the market demand curve.
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192013-7-22
Supply
quantity supplied:the amount of a good
that sellers are willing and able tosell.
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202013-7-22
?supply schedule:a table that shows the relationship
between the price of a good and the quantity supplied.
combination
ABCDEFPrice of ice-cream cone 0.511.522.53Quantity supplied
0
1
2
3
4
5
?
supply curve:a graph of the relationship between
the price of a good and the quantity supplied.
?supply function:Qs =－c＋d·P (c,d>0)
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FYI:
究竟是先产生需求再产生供给呢，还是先产生供给才产生需求？这有点像问“是先有蛋还是先有鸡”。其实有时我们会觉得是需求带动供给，许多新产品就是在人们强烈的需求下产生的；但有时似乎是供给诱导需求，比如新潮的时装，常常是提供出来之后，才左右了人们的视线，引发了人们的需求。可是，在某一种商品的价格决定中，供给与需求就像一把剪刀的两个刀片，作用是不分彼此而共同决定一种商品的价格；价格同时又像一只无形的手在市场经济中自发地调节需求和供给，其最后结果是使市场达到了均衡—社会资源配置合理。
总之，很多事物在经济学家眼里都成了产品，皆可从供给和需求的角度来进行分析。需求是提供产品的动力，供给是满足需求的前提。比如要兴办教育，是因为存在大量的对“教育”产品有需求的人，而有了“教育”产品的供给，才能满足对“教育”产品的需求。如果想上学的都能上学，教育资源得到充分利用，也就达到了教育市场的供求平衡。
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Supply and DemandTogether?Equilibriumrefers to a situation in which the
price has reachedthe level where Qsequals Qd.
?Equilibrium Price
?The price that balancesquantity supplied and quantity demanded. ?On a graph, it is the price at which Sand D curves intersect.
?Equilibrium Quantity
?The quantity supplied and the quantity demanded at the equilibrium price. ?On a graph it is the quantity at which Sand D curves intersect.
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Demand ScheduleSupply Schedule
At $2.00, the quantity demanded is equal to the quantity supplied!汪艳
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Price of Ice-Cream ConeSupply$2.00Equilibrium priceEquilibriumEquilibrium quantityDemandQuantity of1213Ice-Cream Cones
01234567891011汪艳
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Markets Not in EquilibriumSurplusExcess SupplyExcess DemandShortageWhen P> Pe,When P< Pe,then Qs> Qd.then Qd> Qs.汪艳
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Excess Supply
Price ofice-cream
cone
SupplySurplus$2.502.00
Demand04710Quantity ofQuantityQuantityice-cream
demanded
supplied
cones
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Excess Demand
Price ofice-cream
cone
Supply$2.001.50
ShortageDemand04Quantitysupplied
710Quantitydemanded
Quantity ofice-cream
cones
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?Law of supply and demand
●The claim that the price of any
good adjusts to bring the quantity supplied and the quantity demanded for that good into balance.
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392013-7-22
Three Stepsforanalyzing changes in equilibrium?Decide whether the event shifts the supply
or demand curve (or both).
?Decide whether the curve(s)shift(s) to the left ?or tothe right.
Use the supply-and-demand diagram to see how the shift affects equilibrium price and quantity.
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402013-7-22
?How a decrease in demandaffects the equilibrium?
Price ofice-cream cone1.Cold weather …decreases the demand for ice-cream cone…Supply$2.502.00InitialequilibriumNew equilibrium2… resulting ina lower price…D1D207103….and a lowerquantity sold.双语教学示范课程Quantity of ice-cream cones汪艳经济管理学院
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?How an increase in demandaffects the equilibrium?
Coffee and tea are substitutes: if the price of tearises (falls),the demand for coffee will increase (decrease).But how does the price of tea affect the market for coffee?
?When A new demand for equilibrium is E1: The original a good reached at E2, equilibrium in increases, the with a higher the market for equilibrium equilibrium coffee is at E1, at price and the price Pthe intersection 2and a equilibrium of the supply higher quantity of curve S and the equilibrium original demand the good both quantity Q2. curve Drise.1. 00
双语教学示范课程
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?How a decrease in supplyaffects the equilibrium?
Price of ice-creamconeS21.An increase in the price of sugar…reduces the supply of ice-cream cone…S1$2.502.00NewequilibriumInitial equilibrium2…. resulting in a higher price ofice-cream cone…Demand0473….and a lowerquantity sold.双语教学示范课程Quantity of ice-cream cones
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?How an increase in supplyaffects the equilibrium?
?Technological innovation:In the early 1970s, engineers learned how to put microscopic electronic components onto a silicon chip; progress in the technique has allowed ever more components to be put on each chip.
E: The original When supply of 1: A new 2equilibrium in the equilibrium is a good market for silicon reached at E2, with increases, the chips is at E1, at a lower equilibrium the intersection of equilibrium price price of the the demand curve P2and a higher good falls and D and the original equilibrium the equilibrium supply curve Squantity Q2. 1. quantity rises.00
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Simultaneous Shiftsin Supply and Demand
?What happens when the both supply and demand curves shift simultaneously?
The increase in There is a demand is relatively simultaneous larger than the rightward shiftof the decrease in supply, demand curve and so the equilibrium leftward shiftof the price rises and the supply curve. equilibrium quantity increases. 00
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The decrease in There is a simultaneous supply is relatively rightward shiftlarger than the of the demand curve and increase in demand, leftward shiftso the equilibrium of the supply curve. price rises and the equilibrium quantity decreases. 0
0汪艳
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WhatHappens to Price and Quantity WhenSupply or Demand Shifts?汪艳
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Elasticity and Its Application
Elasticity allows us to analyze supply and demand with greater precision.
Elasticity is a measure of how much buyers and sellers respond to changes in market conditions.
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Case:
每每在市场上遇见各商家之间“挥泪大甩卖”、“赔本跳楼价”的价格大战从未仔细考虑过究竞是为什么，只是觉得很开心，因为可以节省大量金钱，有一次我路径一家安全帽专卖店，看到它打出这样的广告—“旧帽换新帽一律八折”。店家的意思是，如果你买安全帽时交一顶旧安全帽的话，当场退二成的价格；如果直接买新帽，对不起只能按原定价格买。这一种促销方式让人觉得好奇，是不是店家加入了什么基金会或是店家和供帽厂家有什么协定，收旧安全帽可以让店家回收一些成本，因此拿旧帽来才有二折的优惠呢？实际情况是店家拿到你那顶脏脏旧旧的安全帽，并没有什么好处，常常是在你走后往垃圾筒一丢了事。
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492013-7-22
?The Elasticity of Demand?The Elasticity of Supply?Three Applications of Supply, Demand, and Elasticity 汪艳
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Price Elasticity of DemandIncome Elasticity of DemandCross-Price Elasticity of Demand汪艳
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???