Chapter 2

Demand,
Supply, and
Chapter
Equilibrium
Prices

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.1 Demand Function.

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.1 The Demand Curve for a Product.

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.2 Change (Increase) in Demand

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.3 Individual Versus Market Demand Curve

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.2 Mathematical Example of a Demand Function.

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.3 Mathematical Example of a Demand Function.

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.4 Supply Function.

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.4 The Supply Curve for a Product

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.5 Change (Increase) in Supply

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.5 Mathematical Example of a Supply Function

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.6 Mathematical Example of a Supply Function

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 Chapter 2
Demand, Supply, and Equilibrium Prices

TABLE 2.1 Factors Influencing Market Demand and Supply

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.6 Market Equilibrium

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.7 A Lower-Than-Equilibrium Price

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.8 A Higher-Than-Equilibrium Price

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.3 & 2.6 Mathematical Example of Equilibrium

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.7 Mathematical Example of Equilibrium

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.9 Change in Demand

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.10 Change in Supply

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.11 Decrease in Supply and Increase in Demand: Increase in Equilibrium Quantity

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.12 Decrease in Supply and Increase in Demand: Decrease in Equilibrium Quantity

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.13 Increase in Supply and Increase in Demand: Lower Equilibrium Price

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.14 Increase in Supply and Increase in Demand: Higher Equilibrium Price

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.8 Mathematical Example of an Equilibrium Change

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.9 Mathematical Example of an Equilibrium Change

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 Chapter 2
Demand, Supply, and Equilibrium Prices

EQUATION 2.10 Mathematical Example of an Equilibrium Change

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 Chapter 2
Demand, Supply, and Equilibrium Prices

FIGURE 2.15 Copper Industry Example

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