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ch06_Exhibit Slides.ppt

  • Количество слайдов: 16

Supply, Demand, and Government Policies Copyright © 2011 Cengage Learning 6 Supply, Demand, and Government Policies Copyright © 2011 Cengage Learning 6

Figure 1 A Market with a Price Ceiling (1) (a) A price ceiling that Figure 1 A Market with a Price Ceiling (1) (a) A price ceiling that is not binding Price of ice cream cornet Supply € 4 Price ceiling 3 Equilibrium price Demand 0 100 Equilibrium quantity Quantity of ice cream cornets Copyright © 2011 Cengage Learning

Figure 1 A Market with a Price Ceiling (2) (b) A price ceiling that Figure 1 A Market with a Price Ceiling (2) (b) A price ceiling that is binding Price of ice cream cornet Supply Equilibrium price € 3 2 Price ceiling Shortage Demand 0 75 125 Quantity supplied Quantity demanded Quantity of ice cream cornets Copyright © 2011 Cengage Learning

Figure 2 Rent Control in the Short Run and in the Long Run (1) Figure 2 Rent Control in the Short Run and in the Long Run (1) (a) Rent control in the short run (supply and demand are inelastic) Rental price of apartment Supply Controlled rent Shortage Demand 0 Quantity of apartments Copyright © 2011 Cengage Learning

Figure 2 Rent Control in the Short Run and in the Long Run (2) Figure 2 Rent Control in the Short Run and in the Long Run (2) (b) Rent control in the long run (supply and demand are elastic) Rental price of housing unit Supply Controlled rent Shortage 0 Demand Quantity of housing units Copyright © 2011 Cengage Learning

Figure 3 A Market with a Price Floor (1) (a) A Price Floor That Figure 3 A Market with a Price Floor (1) (a) A Price Floor That Is Not Binding Price of ice cream cornet Supply Equilibrium price € 3 Price floor 2 Demand 0 100 Equilibrium quantity Quantity of ice cream cornets Copyright © 2011 Cengage Learning

Figure 3 A Market with a Price Floor (2) (b) A price floor that Figure 3 A Market with a Price Floor (2) (b) A price floor that is binding Price of ice cream cornet Supply Surplus € 4 Price floor 3 Equilibrium price Demand 0 Quantity of Quantity ice cream cornets demanded supplied 80 120 Copyright © 2011 Cengage Learning

Figure 4 How the Minimum Wage Affects the Labour Market (1) Wage labour Supply Figure 4 How the Minimum Wage Affects the Labour Market (1) Wage labour Supply Equilibrium wage labour demand 0 Equilibrium employment Quantity of labour Copyright © 2011 Cengage Learning

Figure 4 How the Minimum Wage Affects the Labour Market (2) Wage Labour surplus Figure 4 How the Minimum Wage Affects the Labour Market (2) Wage Labour surplus (unemployment) labour Supply Minimum wage Labour demand 0 Quantity demanded Quantity supplied Quantity of labour Copyright © 2011 Cengage Learning

Figure 4 How the Minimum Wage Affects the Labour Market (3) Copyright © 2011 Figure 4 How the Minimum Wage Affects the Labour Market (3) Copyright © 2011 Cengage Learning Copyright © 2010 Cengage Learning

Figure 4 How the Minimum Wage Affects the Labour Market (4) Copyright © 2011 Figure 4 How the Minimum Wage Affects the Labour Market (4) Copyright © 2011 Cengage Learning Copyright © 2010 Cengage Learning

Figure 5 A Tax on Sellers Price of ice cream Price cornet buyers pay Figure 5 A Tax on Sellers Price of ice cream Price cornet buyers pay € 3. 30 3. 00 Price 2. 80 without tax S 2 Equilibrium with tax S 1 Tax (€ 0. 50) A tax on sellers shifts the supply curve upward by the amount of the tax (€ 0. 50). Equilibrium without tax Price sellers receive Demand, D 1 0 90 100 Quantity of ice cream cornets Copyright © 2011 Cengage Learning

Figure 6 A Payroll Tax Wage Labour supply Wage firms pay Tax wedge Wage Figure 6 A Payroll Tax Wage Labour supply Wage firms pay Tax wedge Wage without tax Wage workers receive Labour demand 0 Quantity of labour Copyright © 2011 Cengage Learning

Figure 7 How the Burden of a Tax Is Divided (1) (a) Elastic supply, Figure 7 How the Burden of a Tax Is Divided (1) (a) Elastic supply, inelastic demand Price 1. When supply is more elastic than demand. . . Price buyers pay Supply Tax 2. . the incidence of the tax falls more heavily on consumers. . . Price without tax Price sellers receive 3. . than on producers. 0 Demand Quantity Copyright © 2011 Cengage Learning

Figure 7 How the Burden of a Tax Is Divided (2) (b) Inelastic supply, Figure 7 How the Burden of a Tax Is Divided (2) (b) Inelastic supply, elastic demand Price 1. When demand is more elastic than supply. . . Price buyers pay Supply Price without tax 3. . than on consumers. Tax Price sellers receive 0 2. . the incidence of the tax falls more heavily on producers. . . Demand Quantity Copyright © 2011 Cengage Learning

Figure 8 A Subsidy on Rail Transport Copyright © 2011 Cengage Learning Copyright © Figure 8 A Subsidy on Rail Transport Copyright © 2011 Cengage Learning Copyright © 2010 Cengage Learning