[经济学]ch16equilibrium

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1、ChapterSixteenEquilibriumMarketEquilibriumAmarketisinequilibriumwhentotalquantitydemandedbybuyersequalstotalquantitysuppliedbysellers.MarketEquilibriumpD(p)q=D(p)MarketdemandMarketEquilibriumpS(p)Marketsupplyq=S(p)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)Mark

2、etEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*q*MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*q*D(p*)=S(p*);themarketisinequilibrium.MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*S(p’)D(p’)

3、erquantitydemanded.p’D(p’)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*S(p’)D(p’)S(p”);anexc

4、essofquantitydemandedoverquantitysupplied.p”S(p”)MarketEquilibriumpD(p),S(p)q=D(p)MarketdemandMarketsupplyq=S(p)p*D(p”)D(p”)>S(p”);anexcessofquantitydemandedoverquantitysupplied.p”S(p”)Marketpricemustrisetowardsp*.MarketEquilibriumCanwecalculatethemarketequilibriumusingtheinvers

5、emarketdemandandsupplycurves?MarketEquilibriumCanwecalculatethemarketequilibriumusingtheinversemarketdemandandsupplycurves?Yes,itisthesamecalculation.MarketEquilibriumTwospecialcases:quantitysuppliedisfixed,independentofthemarketprice,andquantitysuppliedisextremelysensitivetothemarket

6、price.MarketEquilibriumMarketquantitysuppliedisfixed,independentofprice.pqq*MarketEquilibriumS(p)=c+dp,sod=0andS(p)ºc.pqq*=cMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)ºc.pqq*=cD-1(q)=(a-q)/bMarketdemandMarketquantitysuppliedisfixed,inde

7、pendentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)ºc.pqp*D-1(q)=(a-q)/bMarketdemandq*=cMarketquantitysuppliedisfixed,independentofprice.MarketEquilibriumS(p)=c+dp,sod=0andS(p)ºc.pqp*=(a-c)/bD-1(q)=(a-q)/bMarketdemandq*=cp*=D-1(q*);thatis,p*=(a-c)/b.Marketquantitysuppliedisfi

8、xed,i