ECONOMICS

Roger Arnold

CHAPTER 3

Supply, Demand, and Price:

The Theory
Exhibit 1 Demand Schedule and Demand Curve

(a)

(b)

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 2 Deriving a Market Demand Schedule and
a Market Demand Curve

(a)

(b)

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 3 Shifts in the Demand Curve

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 4 Substitutes and Complements

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 5 A Change in Demand versus a Change
in Quantity Demanded

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 6 After-Tax Wages and Home Repair

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 7
The Law of Demand
Holds

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 8 A Supply Curve

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 9 Supply Curves When There Is No Time to Produce
More or No More Can Be Produced

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 10 Deriving a Market Supply Schedule and a
Market Supply Curve

(a)

(b)

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 11 Shifts in the Supply Curve

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 12 A Change in Supply versus a Change
in Quantity Supplied

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 13 Supply and Demand at Work at an Auction

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 14 Moving to Equilibrium

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 15 A Summary Exhibit of a Market
(Supply and Demand)

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 16 Moving to Equilibrium in Terms of Maximum
and Minimum Prices

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 17 Consumers’ and Producers’ Surplus

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 18 Equilibrium, Consumers’ Surplus, and
Producers’ Surplus

(a)

(b)
Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory
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Exhibit 19 Equilibrium Price and Quantity Effects of
Supply-Curve and Demand-Curve Shifts

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 20 A Price Ceiling

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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Exhibit 21 A Price Floor

Arnold Economics, 5e / Ch. 3 Supply, Demand, and Price: The Theory

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