Microeconomics I partie 9/9
Fiches de révisions
Fiches de révisions
Kartei Details
| Karten | 18 |
|---|---|
| Sprache | English |
| Kategorie | VWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 06.06.2019 / 02.10.2023 |
| Weblink |
https://card2brain.ch/box/20190606_microeconomics_i_partie_99
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If government ask for a tax (appartments)
landlords suport burden of tax
zéro passthrough: rare because supply is fixed
If renters buy some houses
Supply (<-) because less appartments to rent
Demand (<-) because they don't ask for appartment anymore
Price doesn't change
Q diminishes
Monopolistic market equilibrium
Imperfectly competitive market
a monopolistic landlord
a perfectly discriminatory monopolistic landlord
a competitive market subject to rent control
More close appartments graph
Comparative statics: more close appartments
Supply is greater, so the price for close apartments falls
Comparative statics: price of distant appartment rises graph
Suppose de price of distant appartments rises
Demand for close apartments increases (rightward shift), causing
a higher price for close apartments
Exogenous in the model of appartments
I price of distant apartments
I quantity of close apartments
I incomes of potential renters
Endogenous in the model of appartments
I price of close apartments
I exchanged quantity of close apartments
Competitive market allocation
by willingness to pay
Competitive equilibrium
Quantity demanded = quantity available ) price will neither rise nor fall
High rental price
quantity demanded less than quantity available ) price will fall
Low rental price
quantity demanded of close apartments exceeds quantity available ) price will rise
Supply for appartments
Quantity fixed
Market demande curve
The quantity demanded vs price graph
Equilibrium
Market price adjust untill quantity demanded equals quantity supplied
Rational choice
Each person tries to choose de best alternative available to him or her
