MicroeconomicsFirst Edition

Chapter 2Supply and Demand

Copyright © 2013 by Worth Publishers

Austan Goolsbee, Steven Levitt, Chad Syverson

Table 2.1 The Four Key Assumptions Underlying the Supply and Demand ModelGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.1 Demand for TomatoesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.2 Shifts in the Demand CurveGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

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

Figure 2.4 Supply of TomatoesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.5 Shifts in the Supply CurveGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.6 Market EquilibriumGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.7 Why Pe Is the Equilibrium PriceGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.8 Effects of a Fall in the Demand for TomatoesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.9 Effects of an Increase in the Supply of TomatoesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Table 2.2 Effect of Shifts in Demand and Supply Curves in IsolationGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.10 Effects of an Increase in the Supply of Video GamesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.11 Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.11 (a) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.11 (b) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.11 (c) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.11 (d) Size of Equilibrium Price and Quantity Changes, and the Slopes of the Supply and Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.12 Population Indices for New York and Houston, 1977–2009Goolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.13 Housing Price Indices for New York and Houston, 1977–2009Goolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.14 Example of a Simultaneous Shift in Demand and SupplyGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.15 When Both Curves Shift, the Direction of Either Price or Quantity Will Be AmbiguousGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.16 Elasticity of a Linear Demand CurveGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.17 Elasticity of a Linear Supply CurveGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.18 Perfectly Inelastic and Perfectly Elastic Demand CurvesGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers

Figure 2.19 Expenditures along a Linear Demand CurveGoolsbee, Levitt, Syverson: Microeconomics, First EditionCopyright © 2013 by Worth Publishers