The demand curve, Microeconomics

The Demand Curve

- The demand curve exhibits how much of a good consumers are ready to buy as the price per unit changes keeping non-price factors constant.

- This price-quantity relationship can be exhibited by the equation: 

2310_demand curve.png

1363_demand curve1.png

Non-price Determining Variables of Demand 

- Consumer Tastes

- Income

- Price of Associated Goods

      Substitutes

     Complements

?Income enhances

- At P1, manufacture Q2

 

- At P2, manufacture Q1

 

- Demand Curve moves right

 

- More purchased at any price on D' than on D

688_change in demand.png

Demand - A Review

 

- Demand is find out by non-price demand-determining variables, like, price of related goods, tastes, and income.

 

- Changes in demand are given by shifting the complete demand curve.

 

- Changes in quantity demanded are given by movements along with the demand curve.

Posted Date: 7/24/2012 7:45:18 AM | Location : United States







Related Discussions:- The demand curve, Assignment Help, Ask Question on The demand curve, Get Answer, Expert's Help, The demand curve Discussions

Write discussion on The demand curve
Your posts are moderated
Related Questions
What aspects of amino acid structure are involved in the formation and stabilisation of beta-sheets in proteins?

Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt

THEORY OF COSUMER  BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference


How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade


The Productivity Growth Slowdown However in 1973 steady trend of climbing rates of productivity growth stopped cold. Between 1973 and 1995 measured growth in output per worker

Risk Premium - The risk premium is amount of money which a risk averse person would pay to keep away from taking a risk. *  Risk Premium: A Scenario - The person has a 5%

a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s

What is ceteris Paribus?  Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa