Demand and Supply 1. 2. 3. Demand Schedule and Demand Curve Supply Schedule and the Supply Curve Elasticity of demand and supply Demand - Total quantity customers are willing…

Slide 1 Slide 2 Willingness to Pay - is the maximum amount a person would be willing to pay, sacrifice or exchange for a good Consumer Surplus – the value to a consumer…

Slide 1 Slide 2 The Factors that affect our Pricing Policy Risk of Future Life; A wonderful marriage life starts with perfect wedding Risk of Future Life; A wonderful marriage…

Slide 1 Slide 2 Demandslide 1 MODEL OF DEMAND The model of demand is an attempt to explain the amount demanded of any good or service. DEMAND DEFINED The amount of a good…

Slide 1 Chapter 31 MARKETING AND ECONOMICS 1Scarcity and Private Enterprise 2Observing the Law of Supply and Demand 3Types of Economic Competition 4Enhancing Economic Utility…

Tuesday, August 27, 2013 Assume that B is the initial curve. Supply Shifts Review Equilibrium 6 5 4 3 2 1 0 2 4 6 8 10 12 14 16 18 Bushels of Corn (thousands per week) Price…

Slide 1 Slide 2 Slide 3 Price Quantity Demand = MB QCQC Supply = Sum of MC PCPC PCPC d = MR = MB MC qCqC quantity Competitive MarketCompetitive firm in Market Competitive…