ib-economics-quantitative

Recommendations

Info

5. Insert the two points that you have calculated. For our example, this is shown belowleft:6. Label the axes and the demand curve. You have done it!Now you have a go!Question 1.1On the axes below, plot the following linear demand functions:a. Q D = 100 – 4Pb. Q D = 1000 – 20Pc. Q D = 1500 – 60Pd. Q D = 280 – 14PProduced by Ian Dorton & Jocelyn Blink Page 4
Have you fully labelled the axes?Explaining changes in “a” and “b”If the value of „a‟ in the demand function changes, then the demand curve shifts to the left orthe right, parallel to the original curve.If the demand curve shifts to the right, then it means that there has been a change in one ofthe non-price determinants of demand that has made the product more attractive to theconsumer and so more is demanded at each price.If the demand curve shifts to the left, then it means that there has been a change in one ofthe non-price determinants of demand that has made the product less attractive to theconsumer and so less is demanded at each price.If the value of „b‟ changes in the demand function, then the slope of the demand curve willchange. The slope of the demand curve is „– b‟. If „b‟ gets smaller, then the slope of thecurve gets steeper and if „b; gets bigger, the curve will be flatter.Produced by Ian Dorton & Jocelyn Blink Page 5
Page 1 and 2: IB HIGHER LEVEL ECONOMICSQUANTITATI
Page 3: Topic 1 - Linear Demand and Supply
Page 7 and 8: Now you have a go!Question 1.2On th
Page 9 and 10: Question 1.5On the graphs below, pl
Page 11 and 12: Topic 2 - ElasticitiesPrice Elastic
Page 13 and 14: Cross Elasticity of Demand (XED)You
Page 16 and 17: Topic 3 - Specific Taxes and Subsid
Page 18 and 19: Now you have a go!Question 3.1In th
Page 20 and 21: Substitute $4 as P in either equati
Page 22 and 23: SUBSIDIESPlot demand and supply cur
Page 24 and 25: The original producer surplus was t
Page 26 and 27: 2400 = 600PP = $4Substitute $4 as P
Page 28 and 29: Topic 4 - Price ceilings and price
Page 30 and 31: Now you have a go!Question 4.1In th
Page 32 and 33: Step 3Calculate from the diagram th
Page 34 and 35: Marginal product =In the table abov
Page 36 and 37: E.g. The firm below has revenues ba
Page 38 and 39: E.g.(2) The firm below has the foll
Page 40 and 41: ) Firm BQuantity Price AVC ATC300 $
Page 42 and 43: Produced by Ian Dorton & Jocelyn Bl
Page 44 and 45: Topic 12 - Comparative AdvantageYou
Page 46 and 47: Now you have a go!!Question 12.1Usi
Page 48 and 49: 1. Add the world supply curve if fo
Page 50 and 51: 3. Calculate the amount of revenue
Page 52 and 53: Now you have a go!!Question 13.1In
Page 54 and 55:
Question 13.3In the market for bott
Page 56 and 57:
i. Make a table to show the demand
Page 58 and 59:
Topic 15 - Balance of paymentsYou n
Page 60 and 61:
Question 15.1An extract from the ba
show all

ib-economics-quantitative

Create successful ePaper yourself

Delete template?

Save as template?