Brickley, Smith, and Zimmerman,

Managerial Economics and

Organizational Architecture, 4th ed.

Chapter 3: Markets,
Organizations, and the Role
of Knowledge

Markets
Basics of supply and demand
Demand curve--amount of some good
consumers are willing to buy at various
prices.
Supply curve--amount of some good
sellers are willing to offer at various prices.
Interaction of supply and demand yields a
market-clearing price.

Supply and demand in the PC industry

The demand curve
shows the number of
PCs that consumers
want to purchase at
each price. The
supply curve shows
the number producers
want to sell at each
price. Only the
market-clearing price
avoids surpluses or
shortages.

Effects of demand shifts

Managerial Economics and

Organizational Architecture, Chapter 3

Effects of supply shifts

Managerial Economics and

Organizational Architecture, Chapter 3

Cmo explicar el comportamiento de los

precios usando el Modelo de Oferta y
Demanda (2 minutos)
1. Por qu aumenta el precio del bacalao durante la
segunda mitad de diciembre, si en realidad la oferta
(disponibilidad) de bacalao tambin aumenta?
2. Por qu el precio de las frutas tiene importantes
fluctuaciones si los gustos de los consumidores
no son tan variables?

Cmo explicar el comportamiento de los

precios usando el Modelo de Oferta y
Demanda
1. Si el precio del producto aumenta, identifique:
A) Si hay factores que impulsen su demanda y cules son;
B) Si hay factores que debiliten su oferta y cules son;
C) Si se observan simultneamente A) y B)
2. Si el precio del producto se reduce, identifique:
A) Si hay factores que hayan debilitado su demanda;
B) Si hay factores que hayan impulsado su oferta;
C) Si se observan simultneamente A) y B)

Ejercicio en Clase (10 minutos)

Responda en equipos de 2 o 3 personas,
el ejercicio nmero 3-21 en el captulo 3,
pag. 102.

The nature and function of

prices
Coordination of consumption and
production decisions
Incentives to supply
Rationing among buyers

Quality signal in the event of

asymmetric information

Consumer and producer surplus

Government price cap on gasoline

economic effects

Managerial Economics and

Organizational Architecture, Chapter 3

Minimum wage laws

economic effects

Managerial Economics and

Organizational Architecture, Chapter 3