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Microeconomic Policy Applications: Minimum Wage, Global Trade, and Rent Control
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Price Ceilings, Price Floors, and Black Markets
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Price Ceilings
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Price Floors and Black Markets
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Price Floors
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Shifts in the Demand Curve
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Consumer Income:Normal Goods and Inferior Goods
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Substitute Goods
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Consumer Expectations
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Market Equilibrium
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Big Daddy Shift Summary
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Using the Supply and Demand Curves to Find Equilibrium
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Equilibrium
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Results of Both Shifting
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Scarcity and Choice
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Defining Economic Terms:Scarcity, Trade-offs, and Opportunity Costs
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