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AP微观经济学Markets&Prices(二)

2014-04-08 18:59| 来源:环球托福

摘要: 今天,环球托福为AP考生们搜集整理了关于AP微观经济学Markets&Prices(二),看了上文后是否意犹未尽呢?更多好文章尽在环球托福。
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今天,环球托福为AP考生们搜集整理了关于AP微观经济学Markets&Prices(二),值得借鉴。
 
Chapter 2
 
Markets and Prices
 
4. Supply:
 
is the amount that sellers are willing and able to sell at a particular price.
 
 Supply as the amount of goods and services that businesses are willing and ability to

produce at different prices during a certain period of time. Supply is a record of how business's  production  habits  change  in  response  to  price.  It  is  a  whole  series  of quantities that businesses will offer at the different prices levels.
 
Hence, a supply schedule:
AP微观经济学Markets&Prices
 

4.1 Law of supply
 
As the price goes down, quantity supplied offered decreases.
  
From a business perspective, profit-seeking activities by businesses are logical. Hence, sellers will pull back from a market where prices are low. This direct relationship is called the law of upward-sloping supply.
 
 
4.2 Changes in quantity supplied
 
 
Movement along the same supply curve caused by a change in Price!
 

AP微观经济学Markets&Prices
4.3 Change in supply

is a shift in the supply curve, either to left or to right. It is caused by a change in a determinant
1


 
4.4 Determinants of supply
R - Resource Price: most important and most typical reason for change
O - The price of other goods (Prices of goods that use same resources): If the price of one production substitute rises, the supply of another substitute will decrease in order to increase profits.
T - Technology: new innovations in technology can reduce the average cost of production, thus increase supply.
T - Taxes and subsidies: taxes increase costs; subsidies lower costs.
E - Producer expectations: If suppliers expect price to rise, they will wait to send their goods to market. Because the price is as yet unchanged, this is a decrease in supply, which would in turn cause price to rise. If suppliers expect price to fall, they will rush their goods to market in hopes of getting the present high price. This increases supply, which would cause price to fall.
N - The number of sellers: Other things equal, the larger the number of suppliers, the greater the market supply.

5. Equilibrium:
 
The prices at which both demand and supply curves intersect is the equilibrium price.
AP微观经济学Markets&Prices
 
 
A market equilibrium comes at the price at which quantity demanded equals quantity supplied.If the market price is below equilibrium, the individual decisions of buyers and sellers will eventually push it upward. If the market price is above equilibrium, the opposite will tend to happen.
Depending on market conditions, immediately or in the future, price and quantity will move toward equilibrium as buyers and sellers intuitively and logically carry out the laws of demand and supply.
 
5.1 Changes in Supply, Demand and Equilibrium:
Demand only changes
 
AP微观经济学Markets&Prices
Supply only Changes
 
Figure 2.10
 AP微观经济学Markets&Prices
Complex Cases
 

AP微观经济学Markets&Prices
 
Summary:
 
Change in Supply Change in Demand Effect on Pe Effect on Qe
Increase Increase    
Decrease Decrease    
Increase Decrease    
Decrease Increase    
 
 
以上即是本次环球托福为AP考生准备整理的AP微观经济学Markets&Prices(二),未完待续,请参阅AP微观经济学Markets&Prices(三)。更多精彩文章尽在环球托福!