Professional Documents
Culture Documents
Unit6 Handout
Unit6 Handout
EURSC
2007/2008
Contents
Other
12
20
16
12
A
8
B
0 2 4 6 8 10 Books
Price
30
20
B
15
A
10
0 2 4 6 8 10 Books
20
16
12
A
4 B
0 2 4 6 8 10 Books
Price
30
25
20
15
A
10
B
0 2 4 6 8 10 Books
Factors affecting Demand
Demand and Price of Other Goods
Qx = f (Px ; M, Py , T )
Example: Qx = M+T
Py − 3Px
Price
60
Demand of BB
50 TV show in
minutes
40
30
20
10
0 20 40 60 100
80
The Consumer Surplus
Price
60
Demand of BB
50 TV show in
minutes
40
30 CS
20
10
0 20 40 60 100
80
The Consumer Surplus
The Paradox of Value