Shifts in supply and demand, Microeconomics

Shifts in Supply and Demand

When supply and demand vary at the same time, the impact on the equilibrium price and quantity is known by:

1. The shape of the supply and demand curves

 

2. The relative size and direction of the change 

 

The Prices of Eggs & Education Revisited

  1. The actual price of eggs fall 59% from 1970 to 1998.
  2. Supply increased because of increased mechanization of poultry farming and the decreased cost of production.
  3. Demand decreased as the increasing consumer concern over the health and cholesterol outcomes of eating eggs.

 

Market for Eggs

1120_shift in supply and demand.png

Price of College Education

  1. The actual price of a college education rise 68 % from 1970 to 1995.
  2. Supply decreased because of higher costs of equipping and maintaining modern laboratories, classrooms, and libraries, and higher faculty salaries.
  3. Demand rises as a larger percentage of high school graduates attending college.

Market for College Education

82_shift in supply and demand1.png

Posted Date: 7/24/2012 8:20:24 AM | Location : United States







Related Discussions:- Shifts in supply and demand, Assignment Help, Ask Question on Shifts in supply and demand, Get Answer, Expert's Help, Shifts in supply and demand Discussions

Write discussion on Shifts in supply and demand
Your posts are moderated
Related Questions
Why elasticity is important for economic analysis?  Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to


Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3

How might an accurate value for the multiplier aid a government in setting fiscal policy? Any given multiplier will enhance national income at a given rate times enhance in gov

What determines aggregate demand?

"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?

excess reserve make a bank less vulnerable to runs.why


The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b

what is the mass of a body when it is taken to the moon