Slide 1Aggregate Supply and Aggregate Demand CHAPTER 11 Slide 2 After studying this chapter you will be able to Distinguish between the macroeconomic long run and short run…

Slide 1Aggregate Supply and Aggregate Demand CHAPTER 27 Slide 2 After studying this chapter you will be able to Distinguish between the macroeconomic long run and short run…

1. MR. REY BELEN PRICE ELASTICITY OF SUPPLY 2. Supply Price and Quantity Demanded are directly related to each other. An increase in price causes the quantity demanded to…

PRICE ELASTICITY OF DEMAND MR. REY BELEN Demand Price and Quantity Demanded are inversely related to each other. An increase in price causes the quantity demanded to fall,…

Slide 1 MR. REY BELEN PRICE ELASTICITY OF SUPPLY Slide 2 Supply Price and Quantity Demanded are directly related to each other. An increase in price causes the quantity demanded…

Slide 1 1 Microeconomics – 2008 Topic 3 Chapter 6 Elasticity and its Applications Slide 2 2 Learning Objectives Introduce the concept of price elasticity of demand and…

Chapter 5 Section 1 The Law of Supply Supply: the amount of goods available The law of supply is when goods are produced according to their price. The law of supply begins…

Slide 1 Measuring the Price Level and Inflation Price level Average level of prices in the economy Index A series of numbers used to track a variable’s rise or fall over…

Chapter 5 Chapter 5 Supply The Law of Supply Supply is the amount of goods available According to the law of supply, producers offer more of a good as its price increases…