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Chapter Chapter 4

ECN 104 Chapter Notes - Chapter Chapter 4: Atkins Diet, Demand Curve, Normal Good

Course Code
ECN 104
Tsogbadral Galaabaatar
Chapter 4

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Maket- a goup of ues ad selles of a patiula podut
Copetitie aket- lage ues of podues opete ith eah othe to satisf
the ats ad eeds fo all osues eah has e little effet o pie
Pefet opetitie aket:
All goods ae eatl the sae ualit
Noe of the osues o selles a hae huge effet o aket pie
Quatit dead- aout of the good that ues ae illig ad ale to puhase
La of dead- all fatos eig eual as the pie of good/ seie ieases,
dead fo the good/ seie deeases ie esa
Dead shedule- a tale that shos the elatioship etee the pie of a good
ad the uatit dead
Quatit dead= uatiles deaded  all ues at eah pie
Dead ue- shos ho pie affets uatit dead
Dead of a oal good is elated to INCOME
Iease of ioe ause iease i uatit deaded at eah pie, theefoe
shifts D ue to the ight
To goods ae sustitutes if a iease i the pie of oe auses a iease i
dead fo the othe.
E. Iease of pie of pizza iease dead fo hauges shiftig hauge
dead to the ight
To goods ae opleets if a iease i pie of oe auses a fall i dead fo
the othe
E. If pie of oputes ises, people u fee oputes ad theefoe less
softae softae dead ue shifts left
Athig that auses a shift i toad a good ill iease dead fo that good ad
shift its ue to the ight
E. Atkis diet eoe popula i 90s aused a iease i dead fo eggs, shifted
egg dead ue to the ight
Epetatios affet osues’ uig deisios
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