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E demand - PowerPoint PPT Presentation

Supply and Demand

Supply and Demand. Supply and Demand Table of Contents. The Basics. Cross Price Elasticity of Demand. The Law of Demand. Income Elasticity of Demand. The Law of Supply. Market Failures. Equilibrium Price and Quantity. Equilibrium and Disequilibrium (2 slides).

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694 views • 39 slides

Lecture 3

Lecture 3. Markets and Welfare. What will we discuss?. What is consumer surplus? What is producer surplus? Why is free market equilibrium efficient? Use the concepts of consumer surplus and producer surplus to study the welfare effects of Taxation International trade and tariffs.

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557 views • 37 slides

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E demand - PowerPoint PPT Presentation

Supply and Demand

Lecture 3