Microeconomics I
Fiches de réveisions
Fiches de réveisions
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Kartei Details
| Karten | 336 |
|---|---|
| Sprache | English |
| Kategorie | VWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 28.05.2019 / 02.10.2023 |
| Lizenzierung | Namensnennung - Nicht-kommerziell - Keine Bearbeitung (CC BY-NC-ND) (Unversité de Genève, cours de Pr. Monika Mrazova) |
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Questions about how appartments rents are determined
- Who will rent close appartments?
- At what price?
- Will the allocation of appartments be desirables at any sense?
Two basic postulates
Rational choice and equilibrium
Rational choice
Each person tries to choose de best alternative available to him or her
Equilibrium
Market price adjust untill quantity demanded equals quantity supplied
Market demande curve
The quantity demanded vs price graph
Supply for appartments
Quantity fixed
Low rental price
quantity demanded of close apartments exceeds quantity available ) price will rise
High rental price
quantity demanded less than quantity available ) price will fall
