# 3E Economics par. 2.3

Demand curve
Supply curve
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Slide 1: Tekstslide
EconomieMiddelbare schoolvwoLeerjaar 3

In deze les zitten 11 slides, met tekstslides.

Lesduur is: 60 min

## Onderdelen in deze les

Demand curve
Supply curve

#### Slide 1 -Tekstslide

Market equilibrium

#### Slide 2 -Tekstslide

Market
Demand curve and supply curve lead to a market equilibrium

Qs = Qd

1 > Solve the equation
2 > intersection point of the 2 lines

#### Slide 3 -Tekstslide

Market equilibrium
The intersection point where supply and demand are equal for a certain product (Qs = Qd)

#### Slide 4 -Tekstslide

Calculation
For the market of a certain product we have the following equations
Qd = - 2,4p + 1200 en Qs = 4p - 400

Qs = Qd

calculate the equilibrium price

#### Slide 5 -Tekstslide

Calculation
For the market of a certain product we have the following equations
Qd = - 2,4p + 1200 en Qs = 4p - 400

Qs = Qd
4p - 400 = - 2,4p + 1200
6,4p = 1600
P = 250

Equilibrium price = €250

#### Slide 6 -Tekstslide

Calculation
Now we now the equilibrium price ( €250) we can calculate the equilibrium quantity

Qd = - 2,4p + 1200 and Qs = 4p - 400

-2,4 x 250 + 1200 = 600

Equilibrium quantity = 600

Check: 4 x 250 - 400 = 600

#### Slide 7 -Tekstslide

Excess supply and demand
Situations can occur in which there is a excess demand

Quantity demanded > quantity supplied

OR

Quantity supplied > quantity demanded

#### Slide 8 -Tekstslide

Assignments
Start working on 1 t/m 12 of section 2.3