Chapter 14: Competitive Market Equilibrium

Static Graphics

Each graphic opens in a new browser window.

Adding up Demand and Supply Curves

Equilibrium -- and What's Behind It

Labor Market Equilibrium

Shutting Down versus Exiting and Industry

Moving from Short Run to Long Run Equilibrium

Long Run Market Supply when Firms Differ

An Industry in both Short- and Long-Run Equilibrium

An Increase in Long Run Fixed Cost

An Increase in the Rental Rate of Capital

An Increase in the Wage

An Increase in the Market Demand

A Graphical Representation of the Industry Equilibrium