Ch05
Markets. What is a market? markets are places where 1 or more buyers and 1 or more sellers come together ex: swap meet, stock market, grocery store, E-Bay.
Who Demand? YOU YOU Demand! Demand!. The obligatory vocabulary. Demand microeconomics demand schedule demand curve Law of Demand market demand curve marginal.
WHAT IS DEMAND?
Demand How much will you pay for my ipod? (Reference 3.1 and 3.2 )
Total revenue (TR) TR = P x Q TR and E d are related If TR changes in the opposite direction from price, demand is elastic If TR changes in the.
Markets
R. GLENN HUBBARD
