Introdução a Economia - Mankiw - Respostas

Prévia do material em texto

Principles of Economics chapters Principles of Principles of
Microeconomics Macroeconomics
 chapters chapters
1. Ten Principles of Economics 1 1
2. Thinking Like an Economist 2 2
3. Interdependence and the Gains from Trade 3 3
4. The Market Forces of Supply and Demand 4 4
5. Elasticity and Applications 5 5
6. Supply, Demand, and Government Policies 6 6
7. Consumers, Producers and the Efficiency of Markets 7 7
8. Application: The Costs of Taxation 8 8
9. Application: International Trade 9 9
10. Externalities 10 --
11. Goods and Common Resources 11 --
12. The Tax System 12 --
13. The Costs of Production 13 --
14. The Competitive Firm 14 --
15. Monopoly 15 --
16. Oligopoly 16 --
17. Monopolistic Competition 17 --
18. The Markets for the Factors of Production 18 --
19. Earnings and Discrimination 19 --
20. The Distribution of Income 20 --
21. The Theory of Consumer Choice 21 --
22. Measuring a Nation's Wealth -- 10
23. Measuring the Cost of Living -- 11
24. Production and Growth -- 12
25. Financial Markets: Saving, Investment, -- 13
 and Interest Rates --
26. Unemployment -- 14
27. The Monetary System -- 15
28. Inflation: Its Causes and Costs -- 16
29. Open-Economy Macroeconomics: Basic Concepts -- 17
30. A Macroeconomic Theory of the Open Economy -- 18
31. Aggregate Demand and Aggregate Supply -- 19
32. Monetary and Fiscal Policy Determinants of -- 20
 Aggregate Demand
33. The Short-Run Tradeoff between Inflation -- 21
 andUnemployment
34. Five Debates over Macroeconomic Policy -- 22
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d. $10,000
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c. Movie ticket
a. Quart of milk
c. Movie ticket
d. Acme’s capital
b. One hour
 of work
d. Acme’s capital
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@&"/'4'0(;*-"/;*;("#*/I'(*@&"<2((?9*(#*7&<'4/=(*C$*77(7&..<0(%#(*C$*77(;*-"/;(<*";7
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'9"'(=&4;*(*$%/%-4$(;*$474%/7("/;("<<%$"'*(7$"#$*(#*7%&#$*72
Pr
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f O
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Quantity of Oranges
D
S1
S2
Pr
ice
 o
f C
ar
ibb
ea
n 
Ho
te
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oo
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s
Quantity of Caribbean Hotel Rooms
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-3
A'/B5&:1(#78(@$$5<0#%</71*((@71?&'1
12 "2 ,%<;(8*"'9*#(;"-"=*7('9*(%#"/=*($#%.B(#*;&$4/=('9*(7&..<0(%A(%#"/=*72((?947
$"/(:*(7**/(4/(U4=&#*(FE>("7("(794A'('%('9*(<*A'(4/('9*(7&..<0($&#5*(A%#(%#"/=*72(
?9*(/*8(*@&4<4:#4&-(.#4$*(47(94=9*#('9"/('9*(%<;(*@&4<4:#4&-(.#4$*2
:2 H*%.<*(%A'*/('#"5*<('%('9*(,"#4::*"/(A#%-(W*8(X/=<"/;('%(*7$".*($%<;(8*"'9*#B
7%(;*-"/;(A%#(,"#4::*"/(9%'*<(#%%-7(47(94=9(4/('9*(84/'*#2((P/('9*(7&--*#B
A*8*#(.*%.<*('#"5*<('%('9*(,"#4::*"/B(74/$*(/%#'9*#/($<4-*7("#*(-%#*(.<*"7"/'2(
?9*(#*7&<'B("7(79%8/(4/(U4=&#*(FEDB(47("(794A'('%('9*(<*A'(4/('9*(;*-"/;($&#5*2(
?9*(*@&4<4:#4&-(.#4$*(%A(,"#4::*"/(9%'*<(#%%-7(47('9&7(<%8*#(4/('9*(7&--*#
'9"/(4/('9*(84/'*#B("7('9*(A4=&#*(79%872
Pr
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 o
f U
se
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Ca
dil
lac
s
Quantity of Used Cadillacs
S2
S1
D1
D2
Pr
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f G
as
oli
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Quantity of Gasoline
S1
S2
!"#$%&#'()#"$*(+(,%-."/0
4-4
$2 S9*/("(8"#(:#*"67(%&'(4/('9*(Y4;;<*(X"7'B(-"/0(-"#6*'7("#*("AA*$'*;2((Q4/$*
-&$9(%4<(.#%;&$'4%/('"6*7(.<"$*('9*#*B('9*(8"#(;47#&.'7(%4<(7&..<4*7B(794A'4/=('9*
7&..<0($&#5*(A%#(="7%<4/*('%('9*(<*A'B("7(79%8/(4/(U4=&#*(FEF2((?9*(#*7&<'(47("
#47*(4/('9*(*@&4<4:#4&-(.#4$*(%A(="7%<4/*2((S4'9("(94=9*#(.#4$*(A%#(="7%<4/*B('9*
$%7'(%A(%.*#"'4/=("(="7E=&TT<4/=("&'%-%:4<*B(<46*("(,";4<<"$B(84<<(4/$#*"7*2((37("
#*7&<'B('9*(;*-"/;(A%#(&7*;(,";4<<"$7(84<<(;*$<4/*B("7(.*%.<*(4/('9*(-"#6*'(A%#
$"#7(8%/I'(A4/;(,";4<<"$7("7("''#"$'45*2((P/(";;4'4%/B(7%-*(.*%.<*(89%("<#*";0
%8/(,";4<<"$7(84<<('#0('%(7*<<('9*-2((?9*(#*7&<'(47('9"'('9*(;*-"/;($&#5*(A%#(&7*;
,";4<<"$7(794A'7('%('9*(<*A'B(894<*('9*(7&..<0($&#5*(794A'7('%('9*(#4=9'B("7(79%8/(4/
U4=&#*(FEJ2((?9*(#*7&<'(47("(;*$<4/*(4/('9*(*@&4<4:#4&-(.#4$*(%A(&7*;(,";4<<"$72
Pr
ice
 o
f N
ot
eb
oo
ks
Quantity of Notebooks
S
D1
D2
Pr
ice
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f N
ot
eb
oo
ks
Quantity of Notebooks
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-5>2 ?9*(7'"'*-*/'('9"'(Z"/(4/$#*"7*(4/('9*(;*-"/;(A%#(/%'*:%%67(#"47*7('9*(@&"/'4'0(%A
/%'*:%%67(;*-"/;*;B(:&'(/%'('9*(@&"/'4'0(7&..<4*;Z(47(A"<7*B(4/(=*/*#"<2((37(U4=&#*(FEK
79%87B('9*(4/$#*"7*(4/(;*-"/;(A%#(/%'*:%%67(#*7&<'7(4/("/(4/$#*"7*;(@&"/'4'0(7&..<4*;2(
?9*(%/<0(8"0('9*(7'"'*-*/'(8%&<;(:*('#&*(47(4A('9*(7&..<0($&#5*(8*#*(.*#A*$'<0
4/*<"7'4$B("7(79%8/(4/(U4=&#*(FEL2
Pr
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f S
we
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sh
irt
s
Quantity of Sweatshirts
D
S1
S2
!"#$%&#'()#"$*(+(,%-."/0
4-6
D2 "2 PA(.*%.<*(;*$4;*('%(9"5*(-%#*($94<;#*/(["($9"/=*(4/('"7'*7\B('9*0I<<(8"/'(<"#=*#
5*94$<*7(A%#(9"&<4/=('9*4#(64;7("#%&/;B(7%('9*(;*-"/;(A%#(-4/45"/7(84<<(4/$#*"7*2(
Q&..<0(8%/I'(:*("AA*$'*;2
:2 PA("(7'#46*(:0(7'**<8%#6*#7(#"47*7(7'**<(.#4$*7B('9*($%7'7(%A(.#%;&$4/=("(-4/45"/
#47*(["(#47*(4/(4/.&'(.#4$*7\2((?9*(#*7&<'(47("(;*$#*"7*(4/('9*(7&..<0(%A(-4/45"/72(
]*-"/;(8%/I'(:*("AA*$'*;2
$2 ?9*(;*5*<%.-*/'(%A(/*8("&'%-"'*;(-"$94/*#0(A%#('9*(.#%;&$'4%/(%A(-4/45"/7(47
"/(4-.#%5*-*/'(4/('*$9/%<%=02((?9*(#*;&$'4%/(4/(A4#-7I($%7'7(#*7&<'7(4/("/
4/$#*"7*(4/(7&..<02((]*-"/;(47/I'("AA*$'*;2
;2 ?9*(#47*(4/('9*(.#4$*(%A(7'"'4%/(8"=%/7("AA*$'7(-4/45"/(;*-"/;(:*$"&7*(7'"'4%/
8"=%/7("#*(7&:7'4'&'*7(A%#(-4/45"/7(['9"'(47B('9*#*I7("(#47*(4/('9*(.#4$*(%A("
#*<"'*;(=%%;\2((?9*(#*7&<'(47("/(4/$#*"7*(4/(;*-"/;(A%#(-4/45"/72((Q&..<0(47/I'
"AA*$'*;2((
*2 ?9*(#*;&$'4%/(4/(.*%.<*7I(8*"<'9($"&7*;(:0("(7'%$6E-"#6*'($#"79(#*;&$*7('9*4#
4/$%-*B(<*";4/=('%("(#*;&$'4%/(4/('9*(;*-"/;(A%#(-4/45"/7B(74/$*(-4/45"/7("#*("
/%#-"<(=%%;2
F2 "2 S9*/("(9&##4$"/*(4/(Q%&'9(,"#%<4/"(;"-"=*7('9*($%''%/($#%.B(4'(#"47*7(4/.&'
.#4$*7(A%#(.#%;&$4/=(78*"'794#'72((37("(#*7&<'B('9*(7&..<0(%A(78*"'794#'7(794A'7('%
'9*(<*A'B("7(79%8/(4/(U4=&#*(FEM2((?9*(/*8(*@&4<4:#4&-(9"7("(94=9*#(.#4$*("/;
<%8*#(@&"/'4'0(%A(78*"'794#'72
Pr
ice
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f S
we
at
sh
irt
s
Quantity of Sweatshirts
S
D1D2
Pr
ice
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f S
we
at
sh
irt
s
Quantity of Sweatshirts
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-7
:2 3(;*$<4/*(4/('9*(.#4$*(%A(<*"'9*#(V"$6*'7(<*";7(-%#*(.*%.<*('%(:&0(<*"'9*#(V"$6*'7B
#*;&$4/=('9*(;*-"/;(A%#(78*"'794#'72((?9*(#*7&<'B(79%8/(4/(U4=&#*(FENB(47("
;*$<4/*(4/(:%'9('9*(*@&4<4:#4&-(.#4$*("/;(@&"/'4'0(%A(78*"'794#'72
$2 ?9*(*AA*$'7(%A($%<<*=*7(#*@&4#4/=(7'&;*/'7('%(*/="=*(4/(-%#/4/=($"<47'9*/4$7(4/
"..#%.#4"'*("''4#*(#"47*7('9*(;*-"/;(A%#(78*"'794#'7B("7(79%8/(4/(U4=&#*(FE1O2(
?9*(#*7&<'(47("/(4/$#*"7*(4/(:%'9('9*(*@&4<4:#4&-(.#4$*("/;(@&"/'4'0(%A
78*"'794#'72
Pr
ice
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f S
we
at
sh
irt
s
Quantity of Sweatshirts
D
S1
S2
Pr
ice
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f B
ab
ys
itti
ng
 S
er
vic
es
Quantity of Babysitting Services
S
D1 D2
!"#$%&#'()#"$*(+(,%-."/0
4-8
;2 ?9*(4/5*/'4%/(%A(/*8(6/4''4/=(-"$94/*7(4/$#*"7*7('9*(7&..<0(%A(78*"'794#'72((37
U4=&#*(FE11(79%87B('9*(#*7&<'(47("(#*;&$'4%/(4/('9*(*@&4<4:#4&-(.#4$*("/;("/
4/$#*"7*(4/('9*(*@&4<4:#4&-(@&"/'4'0(%A(78*"'794#'72
J2 3('*-.%#"#4<0(94=9(:4#'9(#"'*(4/('9*(0*"#(>OOO(<*";7('%(%..%74'*(*AA*$'7(%/('9*(.#4$*(%A
:":074''4/=(7*#54$*7(4/('9*(0*"#7(>OOJ("/;(>O1J2((P/('9*(0*"#(>OOJB('9*#*("#*(-%#*(JE
0*"#(%<;7(89%(/**;(74''*#7B(7%('9*(;*-"/;(A%#(:":074''4/=(7*#54$*7(#47*7B("7(79%8/(4/
U4=&#*(FE1>2((?9*(#*7&<'(47("(94=9*#(.#4$*(A%#(:":074''4/=(7*#54$*7(4/(>OOJ2((!%8*5*#B(4/
'9*(0*"#(>O1JB('9*(4/$#*"7*;(/&-:*#(%A(1JE0*"#(%<;7(794A'7('9*(7&..<0(%A(:":074''4/=
7*#54$*7('%('9*(#4=9'B("7(79%8/(4/(U4=&#*(FE1D2((?9*(#*7&<'B("7(79%8/(4/(U4=&#*(FE1DB(47
"(;*$<4/*(4/('9*(.#4$*(%A(:":074''4/=(7*#54$*72
Pr
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f B
ab
ys
itti
ng
 S
er
vic
es
Quantity of Babysitting Services
D
S1 S2
Pr
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f C
iga
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Quantity of Cigars
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-9
K2 "2 ,4="#7("/;($9*84/=('%:"$$%("#*(7&:7'4'&'*7(A%#($4="#*''*7B(74/$*("(94=9*#(.#4$*
A%#($4="#*''*7(8%&<;(4/$#*"7*(;*-"/;(A%#($4="#7("/;($9*84/=('%:"$$%2
:2 3/(4/$#*"7*(4/('9*('"C(%/($4="#*''*7(<*";7('%(4/$#*"7*;(;*-"/;(A%#($4="#7("/;
$9*84/=('%:"$$%2((?9*(#*7&<'B("7(79%8/(4/(U4=&#*(FE1F(A%#($4="#7B(47("(#47*(4/
:%'9('9*(*@&4<4:#4&-(.#4$*("/;(@&"/'4'0(%A($4="#7("/;($9*84/=('%:"$$%2
Pr
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 o
f P
izz
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Quantity of Pizza
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-10
$2 ?9*(#*7&<'7(4/(."#'([:\(79%8*;('9"'("('"C(%/($4="#*''*7(<*";7(.*%.<*('%(7&:7'4'&'*
$4="#7("/;($9*84/=('%:"$$%(A%#($4="#*''*7(89*/('9*('"C(%/($4="#*''*7(#47*72((?%
#*;&$*('%'"<('%:"$$%(&7"=*B(.%<4$0-"6*#7(-4=9'("<7%(8"/'('%(4/$#*"7*('9*('"C(%/
$4="#7("/;($9*84/=('%:"$$%B(%#(.&#7&*(7%-*('0.*(%A(.&:<4$(*;&$"'4%/(.#%=#"-2
L2 ^&"/'4'0(7&..<4*;(*@&"<7(@&"/'4'0(;*-"/;*;("'("(.#4$*(%A(_K("/;(@&"/'4'0(%A(M1(.4TT"7
[U4=&#*(FE1J\2((PA(.#4$*(8*#*(=#*"'*#('9"/(_KB(@&"/'4'0(7&..<4*;(8%&<;(*C$**;(@&"/'4'0
;*-"/;*;B(7%(7&..<4*#7(8%&<;(#*;&$*('9*4#(.#4$*('%(="4/(7"<*72((PA(.#4$*(8*#*(<*77('9"/
_KB(@&"/'4'0(;*-"/;*;(8%&<;(*C$**;(@&"/'4'0(7&..<4*;B(7%(7&..<4*#7($%&<;(#"47*('9*4#
.#4$*(84'9%&'(<%74/=(7"<*72((P/(:%'9($"7*7B('9*(.#4$*(8%&<;($%/'4/&*('%(";V&7'(&/'4<(4'
#*"$9*;(_KB('9*(%/<0(.#4$*("'(894$9('9*#*I7(/*4'9*#(*C$*77(7&..<0(/%#(*C$*77(;*-"/;2
M2 "2 3('*$9/%<%=4$"<(:#*"6'9#%&=9('9"'(#*;&$*7('9*($%7'(%A(.#%;&$4/=($%-.&'*#($94.7
#*.#*7*/'7("(;*$<4/*(4/("/(4/.&'(.#4$*(A%#(.#%;&$4/=("($%-.&'*#2((?9*(#*7&<'(47("
794A'('%('9*(#4=9'(4/('9*(7&..<0(%A($%-.&'*#7B("7(79%8/(4/(U4=&#*(FE1K2((?9*
*@&4<4:#4&-(.#4$*(A"<<7("/;('9*(*@&4<4:#4&-(@&"/'4'0(#47*7B("7('9*(A4=&#*(79%872
Pr
ice
 o
f C
om
pu
te
rs
Quantity of Computers
D
S1
S2
Pr
ice
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f S
of
tw
ar
e
Quantity of Software
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-11
:2 Q4/$*($%-.&'*#(7%A'8"#*(47("($%-.<*-*/'('%($%-.&'*#7B('9*(4/$#*"7*;
*@&4<4:#4&-(@&"/'4'0(%A($%-.&'*#7(4/$#*"7*7('9*(;*-"/;(A%#(7%A'8"#*2((37
U4=&#*(FE1L(79%87B('9*(#*7&<'(47("(#47*(4/(:%'9('9*(*@&4<4:#4&-(.#4$*("/;(@&"/'4'0
%A(7%A'8"#*2
Pr
ice
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f B
ag
els
Quantity of Bagels
D
S1 S2
Pr
ice
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f C
re
am
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he
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e
Quantity of Cream Cheese
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-12
N2 "2 PA('9*(.#4$*(%A(A<%&#(A"<<7B(74/$*(A<%&#(47("/(4/=#*;4*/'(4/(:"=*<7B('9*(7&..<0($&#5*
A%#(:"=*<7(8%&<;(794A'('%('9*(#4=9'2((?9*(#*7&<'B(79%8/(4/(U4=&#*(FE1MB(8%&<;(:*
"(A"<<(4/('9*(.#4$*(%A(:"=*<7("/;("(#47*(4/('9*(*@&4<4:#4&-(@&"/'4'0(%A(:"=*<72
Q4/$*($#*"-($9**7*(47("($%-.<*-*/'('%(:"=*<7B('9*(#47*(4/(@&"/'4'0(;*-"/;*;(%A
:"=*<7(4/$#*"7*7('9*(;*-"/;(A%#($#*"-($9**7*B("7(79%8/(4/(U4=&#*(FE1N2((?9*
#*7&<'(47("(#47*(4/(:%'9('9*(*@&4<4:#4&-(.#4$*("/;(@&"/'4'0(%A($#*"-($9**7*2((Q%B("
A"<<(4/('9*(.#4$*(%A(A<%&#(4/;**;(#"47*7(:%'9('9*(*@&4<4:#4&-(.#4$*(%A($#*"-($9**7*
"/;('9*(*@&4<4:#4&-(@&"/'4'0(%A(:"=*<72
Pr
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f C
re
am
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he
es
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Quantity of Cream Cheese
D
S1 S2
!"#$%&#'()#"$*(+(,%-."/0
4-13
S9"'(9"..*/7(4A('9*(.#4$*(%A(-4<6(A"<<7`((Q4/$*(-4<6(47("/(4/=#*;4*/'(4/($#*"-
$9**7*B('9*(A"<<(4/('9*(.#4$*(%A(-4<6(<*";7('%("/(4/$#*"7*(4/('9*(7&..<0(%A($#*"-
$9**7*2((?947(<*";7('%("(;*$#*"7*(4/('9*(.#4$*(%A($#*"-($9**7*([U4=&#*(FE>O\B
#"'9*#('9"/("(#47*(4/('9*(.#4$*(%A($#*"-($9**7*2((Q%("(A"<<(4/('9*(.#4$*(%A(-4<6
$%&<;/I'(9"5*(:**/(#*7.%/74:<*(A%#('9*(."''*#/(%:7*#5*;2
:2 P/(."#'(["\B(8*(A%&/;('9"'("(A"<<(4/('9*(.#4$*(%A(A<%&#(<*;('%("(#47*(4/('9*(.#4$*(%A
$#*"-($9**7*("/;("(#47*(4/('9*(*@&4<4:#4&-(@&"/'4'0(%A(:"=*<72((PA('9*(.#4$*(%A
A<%&#(#%7*B('9*(%..%74'*(8%&<;(:*('#&*G"(A"<<(4/('9*(.#4$*(%A($#*"-($9**7*("/;("
A"<<(4/('9*(*@&4<4:#4&-(@&"/'4'0(%A(:"=*<72((Q4/$*('9*(@&*7'4%/(7"07('9*
*@&4<4:#4&-(.#4$*(%A($#*"-($9**7*(9"7(#47*/B(4'($%&<;/I'(9"5*(:**/($"&7*;(:0("
#47*(4/('9*(.#4$*(%A(A<%&#2
S9"'(9"..*/7(4A('9*(.#4$*(%A(-4<6(#47*7`((U#%-(."#'(["\B(8*(A%&/;('9"'("(A"<<(4/
'9*(.#4$*(%A(-4<6($"&7*;("(;*$<4/*(4/('9*(.#4$*(%A($#*"-($9**7*B(7%("(#47*(4/('9*
.#4$*(%A(-4<6(8%&<;($"&7*("(#47*(4/('9*(.#4$*(%A($#*"-($9**7*2((Q4/$*(:"=*<7("/;
$#*"-($9**7*("#*($%-.<*-*/'7B('9*(#47*(4/('9*(.#4$*(%A($#*"-($9**7*(8%&<;#*;&$*('9*(;*-"/;(A%#(:"=*<7B("7(U4=&#*(FE>1(79%872((?9*(#*7&<'(47("(;*$<4/*(4/
'9*(*@&4<4:#4&-(@&"/'4'0(%A(:"=*<72((Q%("(#47*(4/('9*(.#4$*(%A(-4<6(;%*7($"&7*
:%'9("(#47*(4/('9*(.#4$*(%A($#*"-($9**7*("/;("(;*$<4/*(4/('9*(*@&4<4:#4&-(@&"/'4'0
%A(:"=*<72
Pr
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f B
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Quantity of Bagels
S
D1D2
Pr
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f B
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tb
all
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Quantity of Basketball Tickets
S
D
$8
8,000
!"#$%&#'()#"$*(+(,%-."/0
4-14
1O2 "2 37(U4=&#*(FE>>(79%87B('9*(7&..<0($&#5*(47(5*#'4$"<2((?9*($%/7'"/'(7&..<0(-"6*7
7*/7*(:*$"&7*('9*(:"76*':"<<("#*/"(9"7("(A4C*;(/&-:*#(%A(7*"'7(/%(-"''*#(89"'
'9*(.#4$*2
Pr
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pa
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Quantity of Champagne
S
D1
D2
!"#$%&#'()#"$*(+(,%-."/0
4-15
:2 ^&"/'4'0(7&..<4*;(*@&"<7(@&"/'4'0(;*-"/;*;("'("(.#4$*(%A(_M2((?9*(*@&4<4:#4&-
@&"/'4'0(47(MBOOO('4$6*'72
$2 .#4$* ((@&"/'4'0(;*-"/;*; (((@&"/'4'0(7&..<4*;
(((F 1FBOOO MBOOO
(((M 11BOOO MBOOO
((1> (MBOOO MBOOO
((1K (JBOOO MBOOO
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?9*(/*8(*@&4<4:#4&-(.#4$*(84<<(:*(_1>B(894$9(*@&"'*7(@&"/'4'0(;*-"/;*;('%
@&"/'4'0(7&..<4*;2((?9*(*@&4<4:#4&-(@&"/'4'0(47(MBOOO('4$6*'72
112 ?9*(*C*$&'45*7("#*($%/A&74/=($9"/=*7(4/(;*-"/;(84'9($9"/=*7(4/(@&"/'4'0(;*-"/;*;2(
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D
Q
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S2
P
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P
D
Q
S1
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S1 S2
P
D
Q
S1
S2P
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S1 S2
P
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!"#$%&#'()#"$*(+(,%-."/0
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((
Pr
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Quantity
S
D
Q
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Area of rectangle
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 by consumers
= total revenue received
 by producers
= P x Q
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5-6
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1=2 G4*/(.#%9&$'5@5'0(5/$#*"7*7(8%#("66(8"#-6"/9("'("(.%5/'(5/('5-*?('4*(5/$#*"7*9
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1E2 34*(#57*(5/('4*('">(#"'*(:%&69/H'(/*$*77"#560(5/$#*"7*('">(#*@*/&*?(75/$*(58('4*(9*-"/9
8%#($"#7(:*#*(*6"7'5$?('4*(#57*(5/('4*(.#5$*(%8($"#7($%&69(A*(*/%&<4('%(#*9&$*('%'"6
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5/$#*"75/<2
!"#$%&#'()#"$*(+(,%-."/0
6-1
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12 3/(*4"-.5*(%6("(.#7$*($*757/8(79(':*(#*/'($%/'#%5(909'*-(7/(;*<(=%#>(,7'02((3/
*4"-.5*(%6("(.#7$*(65%%#(79(':*(-7/7-&-(<"8*2((?"/0(%':*#(*4"-.5*9("#*(.%997@5*2
A2 3(9:%#'"8*(%6("(8%%B("#79*9(<:*/(':*#*(79("(@7/B7/8(.#7$*($*757/82((3(9&#.5&9(%6("(8%%B
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C2 D$%/%-79'9(&9&"550(%..%9*($%/'#%59(%/(.#7$*9(@*$"&9*(.#7$*9(:"E*(':*($#&$7"5(F%@(%6
$%%#B7/"'7/8(*$%/%-7$("$'7E7'0(@0(@"5"/$7/8(B*-"/B("/B(9&..502((G:*/(.%57$0-">*#9
9*'($%/'#%59(%/(.#7$*9H(':*0(%@9$&#*(':*(978/"59(':"'(8&7B*(':*("55%$"'7%/(%6(9%$7*'0I9
#*9%&#$*92((J&#':*#H(.#7$*($%/'#%59(%6'*/(:&#'(':%9*(':*0("#*('#07/8('%(:*5.2
K2 3('"4(."7B(@0(@&0*#9(9:76'9(':*(B*-"/B($&#E*H(<:75*("('"4(."7B(@0(9*55*#9(9:76'9(':*
9&..50($&#E*2((!%<*E*#H(':*(%&'$%-*(79(':*(9"-*(#*8"#B5*99(%6(<:%(."09(':*('"42
L2 3('"4(%/("(8%%B(#"79*9(':*(.#7$*(@&0*#9(."0H(5%<*#9(':*(.#7$*(9*55*#9(#*$*7E*H("/B
#*B&$*9(':*(M&"/'7'0(9%5B2
N2 O:*(@&#B*/(%6("('"4(79(B7E7B*B(@*'<**/(@&0*#9("/B(9*55*#9(B*.*/B7/8(%/(':*(*5"9'7$7'0(%6
B*-"/B("/B(9&..502((D5"9'7$7'0(#*.#*9*/'9(':*(<7557/8/*99(%6(@&0*#9(%#(9*55*#9('%(5*"E*
':*(-"#>*'H(<:7$:(7/('&#/9(B*.*/B9(%/(':*7#("5'*#/"'7E*92((G:*/("(8%%B(79('"4*BH(':*
97B*(%6(':*(-"#>*'(<7':(6*<*#(8%%B("5'*#/"'7E*9($"//%'(*"9750(5*"E*(':*(-"#>*'("/B(':&9
@*"#9(-%#*(%6(':*(@&#B*/(%6(':*('"42
7'5@-&1:(#23(?$$-89#%852:*((?2:>&':
12 "2 J78&#*(NP1(9:%<9(':*(-"#>*'(6%#(@**#(<7':%&'(':*('"42((O:*(*M&757@#7&-(.#7$*(79
Q ("/B(':*(*M&757@#7&-(M&"/'7'0(79(R 2((O:*(.#7$*(."7B(@0($%/9&-*#9(79(':*(9"-*
"9(':*(.#7$*(#*$*7E*B(@0(.#%B&$*#92
Pr
ice
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f B
ee
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Quantity of Beer
Supply
Demand
Q1
P1
Pr
ice
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f B
ee
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Quantity of Beer
Supply
Demand
Q1Q2
P1
P2
P2 − $2
!"#$%&#'()#"$*(+(,%-."/0
6-2
@2 G:*/(':*('"4(79(7-.%9*BH(7'(B#7E*9("(<*B8*(%6(SA(@*'<**/(9&..50("/B(B*-"/BH
"9(9:%</(7/(J78&#*(NPA2((O:*(.#7$*(."7B(@0($%/9&-*#9(79(Q H(<:75*(':*(.#7$*
#*$*7E*B(@0(.#%B&$*#9(79(Q (P(SA2((O:*(M&"/'7'0(%6(@**#(9%5B(B*$57/*9('%(R 2
A2 "2 O:*(7-.%97'7%/(%6("(@7/B7/8(.#7$*(65%%#(7/(':*($:**9*(-"#>*'(79(9:%</(7/(J78&#*(
NPC2((T/(':*("@9*/$*(%6(':*(.#7$*(65%%#H(':*(.#7$*(<%&5B(@*(Q ("/B(':*(M&"/'7'0(
<%&5B(@*(R 2((G7':(':*(65%%#(9*'("'(Q H(<:7$:(79(8#*"'*#(':"/(Q H(':*(M&"/'7'0(
B*-"/B*B(79(R H(<:75*(M&"/'7'0(9&..57*B(79(R H(9%(':*#*(79("(9&#.5&9(%6($:**9*(7/(
':*("-%&/'(R (P(R 2
Pr
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f C
he
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Quantity of Cheese
Supply
Demand
Q1Q2 Q3
P1
Pf
!"#$%&#'()#"$*(+(,%-."/0
6-3
@2 O:*(6"#-*#9I($%-.5"7/'(':"'(':*7#('%'"5(#*E*/&*(:"9(B*$57/*B(79($%##*$'(76(B*-"/B
79(*5"9'7$2((G7':(*5"9'7$(B*-"/BH(':*(.*#$*/'"8*(B*$57/*(7/(M&"/'7'0(<%&5B(*4$**B
':*(.*#$*/'"8*(#79*(7/(.#7$*H(9%('%'"5(#*E*/&*(<%&5B(B*$57/*2
$2 T6(':*(8%E*#/-*/'(.&#$:"9*9("55(':*(9&#.5&9($:**9*("'(':*(.#7$*(65%%#H(.#%B&$*#9
@*/*67'("/B('"4."0*#9(5%9*2((Q#%B&$*#9($%&5B(':*/(.#%B&$*("(M&"/'7'0(R (%6
$:**9*H(8"7/7/8(9&@9'"/'7"5(.#%B&$*#(9&#.5&92(()&'($%/9&-*#9(<%&5B(@&0(%/50
':*(M&"/'7'0(R (%6($:**9*H(9%(':*0("#*(7/(':*(9"-*(.%97'7%/("9(@*6%#*2((O"4."0*#9
5%9*(@*$"&9*(':*0(<%&5B(@*(67/"/$7/8(':*(.&#$:"9*(%6(':*(9&#.5&9($:**9*2(
U%$7*'0("9("(<:%5*(5%9*9(7/(':*(9*/9*(':"'('%'"5(9&#.5&9(7/(':*($:**9*(-"#>*'(79/I'
@*7/8(-"47-7V*B2
C2 T6(':*(8%E*#/-*/'(7-.%9*9("(SLWW('"4(%/(5&4&#0($"#9H(':*(.#7$*(."7B(@0($%/9&-*#9(<755
#79*(5*99(':"/(SLWWH(7/(8*/*#"52((O:*(@&#B*/(%6("/0('"4(79(9:"#*B(@0(@%':(.#%B&$*#9("/B
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<7':(':*(B766*#*/$*(@*'<**/(':*('<%(*M&"5('%(':*("-%&/'(%6(':*('"42((O:*(%/50(*4$*.'7%/
<%&5B(@*(76(':*(9&..50($&#E*(<*#*(.*#6*$'50(*5"9'7$H(7/(<:7$:($"9*($%/9&-*#9(<%&5B
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6#79@**92
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B*-"/B*B2
Pr
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Quantity of Gasoline
S1
S2
D2
D1
Q1Q2
P1
P2 − 50¢
P2
!"#$%&#'()#"$*(+(,%-."/0
6-4
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L2 "2 T'(B%*9/I'(-"''*#(<:*':*#(':*('"4(79(7-.%9*B(%/(.#%B&$*#9(%#($%/9&-*#9PP':*
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79(Z ("/B(':*(9&..50($&#E*(79(U 2((T6(':*('"4(79(7-.%9*B(%/(.#%B&$*#9H(':*(9&..50
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$&#E*(<:*/(':*('"4(79(7-.%9*B(%/(.#%B&$*#92((U%("8"7/H(':*(*M&757@#7&-(M&"/'7'0
79(R H(':*(.#7$*(."7B(@0($%/9&-*#9(79(Q ([7/$5&B7/8(':*('"4(."7B('%(':*
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#*B&$7/8(':*(M&"/'7'0(%6(8"9%57/*($%/9&-*B2((]#*"'*#(*5"9'7$7'0(%6(B*-"/B(-*"/9
':"'(M&"/'7'0(6"559(-%#*(7/(#*9.%/9*('%(':*(#79*(7/(':*(.#7$*(%6(8"9%57/*2((J78&#*
NPL(755&9'#"'*9(':79(#*9&5'2((Z*-"/B($&#E*(Z (#*.#*9*/'9("/(*5"9'7$(B*-"/B($&#E*H
<:75*(B*-"/B($&#E*(Z (79(-%#*(7/*5"9'7$2((O%(8*'(':*(9"-*('"4(<*B8*(@*'<**/
B*-"/B("/B(9&..50(#*M&7#*9("(8#*"'*#(#*B&$'7%/(7/(M&"/'7'0(<7':(B*-"/B($&#E*
Z (':"/(6%#(B*-"/B($&#E*(Z 2
Pr
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f G
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Quantity of Gasoline
Supply
tax
tax
D2
D1
Q1 Q2
W
ag
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Quantity of Labor
Supply
Demand
unemployment
D C
B
A
Q1 Q3Q2
w1
wm
!"#$%&#'()#"$*(+(,%-."/0
6-5
$2 O:*($%/9&-*#9(%6(8"9%57/*("#*(:&#'(@0(':*('"4(@*$"&9*(':*0(8*'(5*99(8"9%57/*("'("
:78:*#(.#7$*2((
B2 G%#>*#9(7/(':*(%75(7/B&9'#0("#*(:&#'(@0(':*('"4("9(<*552((G7':("(5%<*#(M&"/'7'0(%6
8"9%57/*(@*7/8(.#%B&$*BH(9%-*(<%#>*#9(-"0(5%9*(':*7#(F%@92((G7':("(5%<*#(.#7$*
#*$*7E*B(@0(.#%B&$*#9H(<"8*9(%6(<%#>*#9(-78:'(B*$57/*2
N2 "2 J78&#*(NPN(9:%<9(':*(*66*$'9(%6(':*(-7/7-&-(<"8*2((T/(':*("@9*/$*(%6(':*
-7/7-&-(<"8*H(':*(-"#>*'(<"8*(<%&5B(@*(< ("/B(R (<%#>*#9(<%&5B(@*
*-.5%0*B2((G7':(':*(-7/7-&-(<"8*([< \(7-.%9*B("@%E*(< H(':*(-"#>*'(<"8*(79
< H(':*(/&-@*#(%6(*-.5%0*B(<%#>*#9(79(R H("/B(':*(/&-@*#(%6(<%#>*#9(<:%("#*
&/*-.5%0*B(79(R (P(R 2((O%'"5(<"8*(."0-*/'9('%(<%#>*#9("#*(9:%</("9(':*("#*"
%6(#*$'"/85*(3),ZH(<:7$:(*M&"59(< ('7-*9(R 2
Pr
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 o
f G
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Quantity of Guns
Supply
D2
D1
Q1Q2
P1
P2 − tax
P2
!"#$%&#'()#"$*(+(,%-."/0
6-6
@2 3/(7/$#*"9*(7/(':*(-7/7-&-(<"8*(<%&5B(B*$#*"9*(*-.5%0-*/'2((O:*(97V*(%6(':*
*66*$'(%/(*-.5%0-*/'(B*.*/B9(%/50(%/(':*(*5"9'7$7'0(%6(B*-"/B2((O:*(*5"9'7$7'0
%6(9&..50(B%*9/I'(-"''*#H(@*$"&9*(':*#*I9("(9&#.5&9(%6(5"@%#2
$2 O:*(7/$#*"9*(7/(':*(-7/7-&-(<"8*(<%&5B(7/$#*"9*(&/*-.5%0-*/'2((O:*(97V*(%6
':*(#79*(7/(&/*-.5%0-*/'(B*.*/B9(%/(@%':(':*(*5"9'7$7'7*9(%6(9&..50("/B(B*-"/B2(
O:*(*5"9'7$7'0(%6(B*-"/B(B*'*#-7/*9(':*(B*-"/B(6%#(5"@%#H(':*(*5"9'7$7'0(%6
9&..50(B*'*#-7/*9(':*(9&..50(%6(5"@%#H("/B(':*(B766*#*/$*(@*'<**/(':*(9&..50
"/B(B*-"/B(6%#(5"@%#(79(':*("-%&/'(%6(&/*-.5%0-*/'2