chap005UsingSupplyandDemand(中级微观经济学-江西

Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/IrwinUsingSupplyandDemandChapter5Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-2LaugherCurveQ.Howmanyconservativeeconomistsdoesittaketoscrewinalightbulb?A.None.Ifthegovernmentwouldjustleaveitalone,itwouldscrewitselfin.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-3ThePowerofSupplyandDemandChangesinsupplyanddemandwillchangeequilibriumpriceandquantity.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-4ThePowerofSupplyandDemandAshiftindemandthatmovesthedemandcurvetotherightcausesequilibriumpriceandquantitytorise.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-5ThePowerofSupplyandDemandAshiftinsupplythatmovesthesupplycurvetotheleftcausesequilibriumpricetoriseandequilibriumquantitytofall.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-6AS0Quantityofcassettes(perweek)$2.502.2509810ExcessdemandD1AShiftinDemandD0BCopyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-7AAShiftinSupplyQuantityofcassettes(perweek)$2.502.2509810D0S1S0CBExcessdemandCopyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-8SixRealWorldExamplesofSupplyandDemandSupplyanddemandcanshedlightonavarietyofreal-worldevents:Floridafreeze.Financialassetsandthebabyboomers.Tenpercentexcisetax.RiceinIndonesia.Farmlaborers.Christmastoys.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-9FloridaFreezeThecrop-damagingfreezeshiftedthesupplycurvetotheleft.Attheoriginalprice,quantitydemandedexceededquantitysupplied.Priceroseuntilthequantitydemandedequaledthequantitysupplied.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-10FloridaFreezeDemandS0(c)P1QeP0QDQSS1Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-11FinancialAssetsandtheBabyBoomersDemographicchangesamongbabyboomersmovedthedemandcurveforfinancialassetstotheright.Attheoriginalprice,quantitydemandedexceededquantitysupplied.Priceroseuntilthequantitydemandedequaledthequantitysupplied.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-12FinancialAssetsandtheBabyBoomersS(f)D0P1Q1Q0P0D1QDCopyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-13FinancialAssetsandtheBabyBoomersThesamephenomenonoccurredinthesurgingdemandforhousingamongthisgroupduringthe1980s.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-14ExciseTaxesCongressimposeda10percentsurtaxonluxuryboats.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-15ExciseTaxesA10percentsurtaxonluxuryboatsleviedonsuppliersshiftsthesupplycurvetotheleft.Afterthetaxisimposed,thequantityofboatsdemandeddrops.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-16ExciseTaxesS0D0P1Q1P0Q0S1QDCopyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-17RiceinIndonesiaDrought,pestilence,andthefinancialcrisisshiftedthesupplycurvetotheleft.Thesteepdemandcurvemeansthatthequantitydemandeddoesnotchangemuchwithchangesinprice.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-18RiceinIndonesiaRespondingtohighprices,thegovernmentimportedriceanddistributedittothemarket,causingthesupplycurvetoshifttotheright.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-19RiceinIndonesia(a)S0DemandP1Q1P2Q2P0Q0S1S2Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-20FarmLaborersThecompressedharvestingseasonincreasedthedemandandincreasedINSpatrolsdecreasedsupply.Demandshiftedtotherightandsupplyshiftedtotheleft.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-21FarmLaborersAttheoriginalprice,thequantityofworkersdemandedexceededthequantitysupplied.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-22FarmLaborersPricerisesuntilthequantitydemandedequaledthequantitysupplied.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-23FarmLaborersTheeffectonthenumberoflaborershireddependedontherelativesizeofthesupplyshift.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-24FarmLaborers(b)S0D0P1S1D1P0QeCopyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-25ChristmasToysAChristmascrazeforFurbiesshiftsdemandtotheright.Ashortageensuedalongwithablackmarket.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-26ChristmasToysFinallythesupplierproducedmore,shiftingthesupplycurvetotheright,causingthepricetodrop.Copyright©2001byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin5-27ChristmasToys(d)P1P0QS0S0D0S1D1QD0QD1Copyright©2001byTheMcGraw-HillCompanies,Inc.Allri