Markets and Competition

What is Demand?

Determinants of demand/ ( income )

Determinants of demand /( price of related goods )

Determinants of demand/ ( tastes and number of buyers )

Supply

Determinants of supply

Market equilibrium // shortage and surplus

A Change in Market Equilibrium Due to a Shift in Demand

A Change in Market Equilibrium Due to a Shift in supply

A Change in Market Equilibrium Due to both a Shift in Demand and supply

How Prices Allocate Resources

Introduction to ch.5

5-1a The Price Elasticity of Demand and Its Determinants

5-1b Computing the Price Elasticity of Demand

5-1c the Midpoint Method

5-1d the Variety of Demand Curves

5-1e Total Revenue and the Price Elasticity of Demand

5-1f Elasticity and Total Revenue along a Linear Demand Curve

The Income Elasticity of Demand

The Cross-Price Elasticity of Demand

The elasticity of supply

The Variety of Supply Curves

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