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  • Law of Supply and Demand

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    Philip Jayson Careng
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    This document discusses the concept of supply and demand equilibrium. It provides an example table showing how price changes with different quantities supplied and demanded. When demand is greater than supply, there is a shortage and price increases. When supply is greater than demand, there is a surplus and price decreases. When supply and demand are equal, price remains constant at the equilibrium point. The document then provides a supply and demand equation and asks the reader to calculate and show the equilibrium price and quantity using the equations provided.

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    This document discusses the concept of supply and demand equilibrium. It provides an example table showing how price changes with different quantities supplied and demanded. When demand is greater than supply, there is a shortage and price increases. When supply is greater than demand, there is a surplus and price decreases. When supply and demand are equal, price remains constant at the equilibrium point. The document then provides a supply and demand equation and asks the reader to calculate and show the equilibrium price and quantity using the equations provided.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    25 views7 pages

    Law of Supply and Demand

    Uploaded by

    Philip Jayson Careng
    This document discusses the concept of supply and demand equilibrium. It provides an example table showing how price changes with different quantities supplied and demanded. When demand is greater than supply, there is a shortage and price increases. When supply is greater than demand, there is a surplus and price decreases. When supply and demand are equal, price remains constant at the equilibrium point. The document then provides a supply and demand equation and asks the reader to calculate and show the equilibrium price and quantity using the equations provided.

    Copyright:

    © All Rights Reserved
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    of 7

    Vida Narag-Banguibang

    CBEA faculty
     When demand is greater than supply, price
    increases. When supply is greater than
    demand, price decreases. When supply is
    equal than demand, price remains constant.
    Quantity Price Quantity
    Supplied Demanded
    1 1 5 Shortage

    2 2 4

    3 3 3 Equilibrium

    4 4 2 Surplus

    5 5 1
    PRICE

    SURPLUS
    4

    3 EQUILIBRIUM

    1 SHORTAGE

    0
    1 2 3 4 5 QUANTITY
    QD= 83-4P
    QS= -22+11P
     Try getting the Qd, P And Qs.
     What is the equilibrium Price, show your

    solution
     What is the equilibrium quantity, show your

    solution.
     Refer to the next slide for your activity.
    Qd P Qs

    75 2 (1)

    63 (2) 33

    (3) 7 55

    43 10 (4)

    23 (5) 143

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