PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB...
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Transcript of PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB...
![Page 1: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/1.jpg)
PARTIAL EQUILIBRIUM
ONE GOOD
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NO TRADE EQUILIBRIUMPRICE OF BREAD
QUANTITY OF BREAD
A
D
PB
QB
Sd
Dd
![Page 3: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/3.jpg)
NO TRADE EQUILIBRIUMPRICE OF BREAD
QUANTITY OF BREAD
A
D
PB
QB
Sd
Dd
ProducerSurplus
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NO TRADE EQUILIBRIUMPRICE OF BREAD
QUANTITY OF BREAD
A
D
PB
QB
Sd
Dd
ConsumerSurplus
![Page 5: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/5.jpg)
CONSUMER SURPLUS MEASURES THE WELFARE GAIN THAT CONSUMERS
OBTAIN FROM PURCHASING GOODS THAT ARE BELOW
THEIR WORTH.
![Page 6: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/6.jpg)
PRODUCER SURPLUS MEASURES THE WELFARE GAIN THAT PRODUCERS OBTAIN FROM SELLING GOODS AT PRICES THAT
ARE ABOVE THEIR PRODUCTION COST.
![Page 7: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/7.jpg)
GAINS FROM TRADE:EXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
QB
Sd
Dd
F
![Page 8: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/8.jpg)
GAINS FROM TRADE:EXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
Sd
Dd
F
CB QB
BC D
EXPORT
PRODUCER SURPLUS BE- FORE TRADE
PW
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GAINS FROM TRADE:EXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
Sd
Dd
F
CB QB
BC D
EXPORT
PRODUCER SURPLUS AFTER TRADE
PW
![Page 10: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/10.jpg)
GAINS FROM TRADE:EXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
Sd
Dd
F
CB QB
BC D
EXPORT
PW
CONSUMER SURPLUS
![Page 11: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/11.jpg)
GAINS FROM TRADE:EXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
Sd
Dd
F
CB QB
BC D
EXPORT
PW
CONSUMER SURPLUS AFTER TRADE
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GAINS FROM TRADE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
B
QB
Sd
Dd
C
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GAINS FROM TRADE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
B
Sd
Dd
CPW FD
IMPORT
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GAINS FROM TRADE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
B
Sd
Dd
CPW FD
IMPORT
CONSUMER SURPLUS
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GAINS FROM TRADE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
B
Sd
Dd
CPW FD
IMPORT
![Page 16: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/16.jpg)
GAINS FROM TRADE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
B
Sd
Dd
CPW FD
IMPORT
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EFFECTIVE SUPPLY AND DEMAND
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EFFECTIVE SUPPLY AND DEMAND MEASURE THE
IMPACT OF DOMESTIC AND WORLD MARKETS ON A
COUNTRY
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EFFECTIVE DEMAND FOREXPORTING COUNTRY
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
QB
Sd
Dd
F
PD=PWDe
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EFFECTIVE SUPPLY CURVE:IMPORTING COUNTRY
PRICE OF WINE
QUANTITY OF WINE
A
G
Sd
Dd
Pd = PwFD
Se
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EXCESS DEMAND CURVEAUTARKY NO EXCESS DEMANDPRICE OF BREAD
QUANTITY OF BREAD
A
G
E
QB
Sd
Dd
F
![Page 22: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/22.jpg)
EXCESS DEMAND CURVEALLOW TRADE TO OCCUR
PRICE OF BREAD
QUANTITY OF BREAD
A
G
E
QP
Sd
Dd
F
QC
![Page 23: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/23.jpg)
EXCESS DEMAND CURVEALLOW TRADE TO OCCUR
PRICE
QUANTITY
A
G
E
QP
Sd
Dd
QC
PRICE
QUANTITY
PW
PW
QT
A
B
C
ED
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EXCESS SUPPLY CURVEAUTARKY NO EXCESS SUPPLY
PRICE
QUANTITY
A
G
E
QB
Sd
Dd
F
![Page 25: PARTIAL EQUILIBRIUM ONE GOOD. NO TRADE EQUILIBRIUM PRICE OF BREAD QUANTITY OF BREAD A D PBPB QBQB SdSd DdDd.](https://reader031.fdocuments.net/reader031/viewer/2022032015/56649cff5503460f949cfea0/html5/thumbnails/25.jpg)
EXCESS SUPPLY CURVEALLOW TRADE TO OCCUR
PRICE
QUANTITY
A
G
E
QP
Sd
Dd
QC
PRICE
QUANTITY
PW
PW
QT
A
B
C
ES
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EXCESS SUPPLY AND DEMAND CURVE
PRICE
QUANTITY
A
D
QT
ESSUM
EDSUM
C
PW
B