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Chapter 3: Demand and Supply: Price Determination in Competitive Markets Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved EXHIBIT 3.1 Hometown Demand for Jogging Shoes Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-2 EXHIBIT 3.2 The Demand Curve for Jogging Shoes In Hometown, U.S.A. Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-3 EXHIBIT 3.3 Income as a Determinant of Demand Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-4 EXHIBIT 3.4 Distinguishing Change in Demand from Change in Quantity Demanded Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-5 EXHIBIT 3.5 Hometown Supply of Jogging Shoes Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-6 EXHIBIT 3.6 The Supply Curve of Jogging Shoes in Hometown, U.S.A Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-7 EXHIBIT 3.7 The Impact of a Technological Advance on the Supply of Personal Computers Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-8 EXHIBIT 3.8 Distinguishing Change In Supply from Change In Quantity Supplied Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-9 EXHIBIT 3.9 The Demand and Supply of Jogging Shoes in Hometown, U.S.A. Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-10 EXHIBIT 3.10 Demand and Supply Curves for Jogging Shoes In Hometown, U.S.A. Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-11 EXHIBIT 3.11 The Effect of an Increase in Demand on the Equilibrium Price Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-12 EXHIBIT 3.12 The Effect of a Decrease in Demand on the Equilibrium Price Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-13 EXHIBIT 3.13 Effect of an Increase in Supply on Equilibrium Price Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-14 EXHIBIT 3.14 Effect of Simultaneous Increases in Demand and Supply on Equilibrium Price Introduction to Economic Reasoning, Eighth Edition William D. Rohlf, Jr. © 2011 Pearson Education, Inc. All Rights Reserved 3-15
