TAILIEUCHUNG - Lecture Managerial economics (10/e): Chapter 2 - Christopher R. Thomas, S. Charles Maurice

Chapter 2 - Demand, supply, and market equilibrium. After reading chapter 2 you should be able to: Work with three different types of demand relations: general, direct, and inverse demand functions; list six principal variables that determine the quantity demanded of a good; derive a direct demand function from a general demand function;. | Chapter 2: Demand, Supply, and Market Equilibrium McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Demand Quantity demanded (Qd) Amount of a good or service consumers are willing & able to purchase during a given period of time Definitions Demand function Quantity demand as a function of the independent variables that influence the quantity demanded Direct demand The direct relationship between the quantity demanded and price (other independent variables held constant) Inverse demand The direct relationship between price and quantity demanded Demand curve A graphical presentation of inverse demand General Demand Function Six variables that influence Qd Price of good or service (P) Incomes of consumers (M) Prices of related goods & services (PR) Taste patterns of consumers (T) Expected future price of product (Pe) Number of consumers in market (N) General demand function Qd = f(P, M, PR, T, Pe , N) General Demand Function b, c, d, e, f,

• Quản trị kinh doanh
• Managerial economics
• Lecture Managerial economics
• Microeconomic theory
• Economic theory
• Quantity demanded
• Market equilibrium
• Market interactions
• Fundamentals of managerial economics
• Marginal analysis
• Marginal benefit
• Economic principles
• Kinh tế học quản lý
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production
• Organizing production