shifted the supply curve for a good without affecting the demand curve. There are many such events. There are also events that shift the demand curve without shifting the supply curve. For example‚ a medical report that chocolate is good for you increases the demand for chocolate but does not affect the supply. That is‚ events often shift either the supply curve or the demand curve‚ but not both; it is therefore useful to ask what happens in each case. We have seen that when a curve shifts‚ the equilibrium
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Moment-Area Method Beam and moment curve M/EI curve between points A and B Moment Area Theorems •The change in slope between any two points on a smooth continuous elastic curve is equal to the area under the M/EI curve between these points •The tangential deviation at a point B on a smooth continuous elastic curve from the tangent line drawn to the elastic curve at the second point A is equal to the moment about B of the area under the M/EI curve between these two points. Moment-Area
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for geometric curves. This means that differential calculus is used to find the slope or tangent along a specific direction of a geometric curve. This relates directly to change‚ because finding the slope or tangent of a geometric curve is essentially finding the rate of change for that geometric curve. The other branch of calculus‚ integral calculus‚ is concerned with finding the area under a curve. This is accomplished by using small towers‚ to find the closest area of the curve. This relates
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period of time (McConnell‚ Brue‚ & Flynn‚ 2009)”. “If we look in Appendix A‚ Figure 1‚ we see the Demand Curve. This curve explains the law of demand‚ simply as price fall ’s the quantity demanded rises (McConnell‚ Brue‚ & Flynn‚ 2009)”. “The demand curve only tells half the story because without supply‚ demand and price are nothing. According to the text‚ supply is a schedule or curve showing various amounts of a product that producers are willing and able to make available for sale at each
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EC 3101: Microeconomic Analysis II A/P Indranil A/P Indranil Chakraborty All relevant details on EC3101 are in the syllabus The morning office hours on Tuesday will start from the third week of lectures t tf th thi d k fl t Important Highlights Important Highlights • Text book: Intermediate Microeconomics: A modern h approach by Hal R. Varian (8th edition) One midterm and one final exam Please do not email material‚ lecture or exam related questions. Post your questions precisely on IVLE Forum or ask
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developed an appreciation for the economic analysis of these themes and acquired some core competences. In particular‚ teacher of the later economics units will assume that you are familiar with the following: 2 -The basic consumer theory: indifference curves‚ income and substitution effects‚ the derivation of -Individual demand and market demand. Definition of elasticities. -The basic production theory: relationships between total‚ average and marginal costs and determination of prices ‚ consumer and
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Demand and Supply curve 7 Figure 5 Top ten net oil importers 2011 (EKKA‚ 2012) 8 Figure 6: Inelasticity in demand to price changes 9 Figure 7: Demand curve movement up along 10 Figure 8: Demand curve movement down along 11 Figure 9 Demand Curve shift rightward 12 Figure 10: Demand Curve shift leftward 12 Figure 11: Supply curve movement up along 16 Figure 12: Supply curve movement down along 17 Figure 13 Supply Curve shift leftward 17 Figure 14 Supply Curve shift rightward 18
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Questions to Lecture 7 – IS-LM model and Aggregate demand 1. Draw Keynesian cross as a comparison of planned and realized expenditures. What is the intercept of planned expenditure line? What is its slope? If government expenditures would be positive function of output‚ how would the Keynesian cross change? We will go over this on the review session – easier to explain than on paper. The intersect point represents the equilibrium output. Black line – planned expenditures Blue
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each firm makes only normal profits. (B) Market Supply Curve: Before we analyze the long run market equilibrium of a competitive industry let us begin with the demand and supply curves. The market demand curve under competitive industry conditions is downward sloping. Its supply curve is governed by the cost structure. [pic] In Figure 35 we have Average and Marginal Cost curves of a firm. Marginal Cost curve intersects Average Total Cost curve at a minimum point. A rational profit maximizing firm
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longer-term bonds are higher than shorter-term bonds’. The term structure of interest rates should be graphed as a curve line of zero-coupon bonds‚ in fact‚ it describe the relationship between matures and coupon date. Using the date provided in the case‚ we can construct the following three yield curves: a. COUGARs Strip Yield Curve This is the adjusted COUGARs strip yield curve that takes the discounted rate (8.11%) into account. The adjustment is necessary because the prices provided
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