Chapter sixteen Equilibrium 均衡
Chapter Sixteen Equilibrium 均衡
Structure ◆ Market equilibriun Quantity tax and equilibrium ◆ Tax incidence(税收分担) ◆ Deadweight loss(额外净损失)
Structure ◆Market equilibrium ◆Quantity tax and equilibrium ◆Tax incidence （税收分担） ◆Deadweight loss （额外净损失）
Market equilibrium eA market is in equilibrium when total quantity demanded by buyers equals total quantity supplied by sellers. ◆ Also called“ market is cleared Supply may not equal production
Market Equilibrium ◆A market is in equilibrium when total quantity demanded by buyers equals total quantity supplied by sellers. ◆Also called “market is cleared” ◆Supply may not equal production
Market equilibrium Market Market demand supply gEs(p) qeD(p) D(p), s(p)
Market Equilibrium p D(p), S(p) q=D(p) Market demand Market supply q=S(p)
Market Setting ◆ Competitive market Contestable market
Market Setting ◆Competitive market • Contestable market