CAS EC 101 Lecture Notes - Lecture 3: Demand Curve, Normal Good

• School: Boston University
• Department: Economics
• Course: CAS EC 101
• Professor: W A T S O N

Document Summary

Ii) increase in quantity demand: one of the non-price determinants of d changes, causing the curve to shift right. Income (normal goods: income (inferior goods, price of substitute, price of complement, changes in states of expectations, number of buyers. Iv) a decrease in quantity demanded is a movement up along the demand curve: one of the non-price determinants of the d changes, causing the curve to shift left. Income (normal goods: income (inferior goods, price of substitute, price of complement, changes in states of expectations, number of buyers, determinants of supply, price, input prices, technology, expectations, number of sellers. Vi) the supply schedule: a table that shows the relationship between the price of a good and the quantity supplies, holding all non-price determinants of supply constant (a) examples: input prices, technology, and expectations. Vii) market supply curve: input prices, technology, expectations and number of sellers all held constant.