Chapter 6: Prices Section 1. Objectives 1.Explain how supply and demand create equilibrium in the marketplace. 2.Describe what happens to prices when.
1.The demand curve 2.The supply curve 3.Market equilibrium and disequilibrium 4.Comparative statics 5.Price floors 6.Price ceilings.
Chapter 4 Part 2. Supply Quantity supplied – amount of a good that sellers are willing and able to sell Law of supply – the quantity supplied of a good.
M ARKET EQUILIBRIUM. Market equilibrium exists when quantity demanded (Qd) equals quantity supplied (Qs). It can be determined by the intersection between.
Ch. 6 -Market Equilibrium. Agenda- 11/10 1. Finish Ch. 6 Lecture (RS) 2. Ch. 6 Book Assignment (LS) 3. HW: Test and Notebooks Friday.
Chapter 2 Equilibrium P45-50 Chapter 2 Equilibrium P45-50.