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
Duality Theorems: The relationship between the direct and indirect utility functions may be described by a set of duality theorems. The following illustrative theorems are pro

This is what this paper should be about 1) In the first paragraph analyze what you most learned from the course to reflect on the statement below. 2) In each separat

What is the difference between wages and salaries

Suppose that the following equation characterizes the demand for primary education in a developing country X: Q = 100 – 2P Where Q is quantity demanded in years of schooling and


Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in

Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, cre

Inflation And Unemployment: Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a

Business Meeting Etiquette: Before meetings, the correct way to arrange a meeting is to take an appointment 3 to 4 weeks before, even though it is known that generally gatherings w

Token Privatisation: This implies the sale of 5 per cent or 10 per cent shares of a profit-making public sector enterprise in the market with the objective of obtaining revenue t