Slide 1Ch. 3: Supply and Demand: Theory Del Mar College John Daly ©2003 South-Western Publishing, A Division of Thomson Learning Slide 2 Demand Demand is: the willingness…

Slide 1The Shut-Down Decision Slide 2 The Short-Run Production Decision In the short-run, sometimes the firm should produce even if price falls below minimum ATC In the short-run,…

Market Structures The structure of a market is a description of the behaviour of number of buyers and sellers in that market. Main market structures (perfect competition,…

Slide 1 1 Labor Markets and Labor Unions Chapter 12 © 2006 Thomson/South-Western Slide 2 2 Three Uses of Time  Individuals can use their time in three ways  Undertake…

Slide 1 CHAPTER 5 SUPPLY Slide 2 Section 1: What is Supply Main Idea: For almost any good or service, the higher the price, the larger the quantity that will be offered for…

Slide 1 1 Perfectly Competitive Supply: The Cost Side of the Market Perfectly Competitive Supply: The Cost Side of the Market Slide 2 2 Buyers and Sellers  Buyers …

Chapter 14 Labor Markets Chapter 18 MODERN PRINCIPLES OF ECONOMICS Third Edition Outline The Demand for Labor and the Marginal Product of Labor Supply of Labor Labor Market…

Supply Weâll add in Demand later. Excited? I can tell. Itâs just like Demand only different. Trust me Still boring though.* Section 2 Section 1 Vocabulary Supply Law of…

Slide 1 Slide 2 Slide 3 Prototype2 Key Terms –Law of Supply  –supply schedule  –supply curve  –market supply curve  –supply  Section 1-2 –quantity…