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- . quantity demanded quantity supplied interaction demand and supply




 

quantity demanded quantity supplied interaction demand and supply complementary goods substitute goods income effect substitution effect law of demand exclusion principle private good public good law of supply individual supply individual demand demand curve supply curve ( ) price ceiling price floor surplus public-sector failure equilibrium quantity spillover

 

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12. How are normal, inferior, substitute, complementary and independent goods defined?

13. Why does a demand curve slope downward?

14. What are the principal kinds of market failures?

15. What are the determinants of demand?

 

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6. If two goods are substitutes for each other, an increase in the price of one will necessarily:

a) decrease the demand for the other;

b) increase the demand for the other;

c) decrease the quantity demanded of the other;

d) increase the quantity demanded of the other.

 

7. The income of a consumer decreases and his/her demand for a particular good increases. It can be concluded that the good is:

a) normal;

b) inferior;

c) a substitute;

d) a complement.

 

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1. d=20-p, s=4p-5. .

 

2. : d=10-p, : s=2p-2. , :

) , p1=5;

) , p2=3.

 

3. Assume, that demand for a commodity is represented by the equation P=10-0,2Qd and supply by the equation P=2+0,2Qs. Solve the equation to determine equilibrium price and equilibrium quantity.

 


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1. : . ϳ. . 1 / . . . . .: , 2009. . 212-226; 665-669.

2. . ϳ / . . . : 2000, 2006. .237-280.

3. : . ϳ / . . . . .: , 2008. . 196 200, 476 492.

 





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