1. In your notes: What is the minimum, per hour I would have to pay you to work at Subway? Pretend there is no minimum wage and you could work for less than $7.85 2. Graph…

1 Perfectly Competitive Supply Chapter 6 Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin 6-2 Learning Objectives 1.Explain how…

الفصل الثاني الطلب والعرض Demand & Supply أولاً : تعريف السوق. ثانياً : الطلب. ثالثاً : العرض. رابعاً:…

Supply Supply Quantity supplied (Qs) Amount of a good or service offered for sale during a given period of time 1 Six variables that influence Qs Price of good or service…

Slide 1 Slide 2 Begin Slide 3 $100 $200 $300 $400 $500 GraphsEconomicEquations Unit 1 Unit 3 KeyTerms Unit 2 Slide 4 C1-$300 - $100 What is Labor Force? The sum of the employed…

Slide 1 Bell Ringer 12/4/08 Identify each as Elastic or Inelastic AND give and example of each 1. 2. Slide 2 Law of Supply and the Supply Curve Chapter 7 Section 3 Slide…

Slide 1 Slide 2 Supplyslide 1 MODEL OF SUPPLY The model of supply is an attempt to explain the amount supplied of any good or service. SUPPLY DEFINED The amount of a good…

Slide 1CHAPTER 7 Costs and supply ©McGraw-Hill Education, 2014 Slide 2 The complete theory of supply (1) Short-run and long-run cost curves and output decisions need to…

Slide 1How the Market System Works Slide 2 Study Questions 1. What is the law of demand? 2. What is the law of supply? 3. How does a market achieve equilibrium? 4. What causes…

Slide 1Chapter 5 Price: The Role of Supply and Demand © 2001 South-Western College Publishing Slide 2 2 Law of Demand The quantity purchased of a good or service is inversely…