El documento presenta conceptos clave sobre oferta, demanda y elasticidad. Explica las curvas de demanda y oferta, y cómo determinan el precio y cantidad de equilibrio en un mercado competitivo. También describe los desplazamientos y movimientos a lo largo de las curvas, así como los efectos de la escasez y el exceso en el mercado.
3. La elección óptima de consumo: Cantidad de patatas (Kg) 5 4 3 2 1 0 10 8 6 4 2 A A B B C C D D E E RB Función de Utilidad F F 5 4 3 2 1 0 80 70 60 50 40 30 20 10 Cantidad de bollos (Kg) 0 2 4 6 8 10 (a) Recta de Balance Cantidad de bollos (kg) Cantidad de patatas (Kg) Utilidad Total (utils) (b) Función de Utilidad G H ¿qué representan los puntos G y H? ¿dónde estarían las funciones de utilidad de G y de H? G H
4. Relación Marginal de sustitución y Precio A B 0 2 4 6 8 16 14 12 10 80 70 60 50 40 30 20 10 I 2 I 3 I 1 RB Cesta de Consumo Óptima C Habitaciones Comidas de restaurante Precio relativo? 5 c = 1 h Cesta B: 65 c ?h 3h RMS en B 20 c = 1 h D: 45 c; 4h Potencial de compra: 20 c = 4 h 45 c; 7h Mayor U que D D ¿Qué sucede si la RMS es distinta al precio? E F
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6. La función de producción Factores productivos PT 1 0 Producción PT 2 PT 3 ¿Cuál de estas 3 curvas corresponde a la función de Producción Total? ¿Por qué? (no vale decir “porque me acuerdo de la semana pasada”)
12. Curva de demanda Una curva de demanda es la representación gráfica de un plan de demanda Muestra la cantidad de bienes o servicios que los consumidores están dispuestos a comprar para cada nivel de precios. 7 0 9 11 15 13 17 $2.00 1.75 1.50 1.25 1.00 0.75 0.50 Precio de los granos de café (Por Kilo) Cantidad de granos de café (billones de kilos) Cuando los precios suben la demanda baja Curva demanda, D
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29. Nuevo punto de equilibrio ante un desplazamiento de la curva de demanda Q 2 Q 1 P 2 P 1 D 2 Oferta D 1 E 2 E 1 Precio del café Cantidad de café Los precios aumentan La cantidad aumenta Aumenta la demanda de café… … que conduce a un movimiento a lo largo de la curva de oferta, llegando a un nuevo precio de equilibrio y a una nueva cantidad de equilibrio. ¡¡¡El precio del té se ha triplicado!!!.
30. Nuevo punto de equilibrio ante un desplazamiento de la curva de oferta P 2 P 1 Q 1 Q 2 Demanda E 1 O 1 O 2 E 2 Precio del café Cantidad de café Los precios aumentan La cantidad disminuye Una disminución en la oferta… … provoca un movimiento a lo largo de la curva de demanda aumentando el precio de equilibrio y disminuyendo la cantidad de equilibrio. ¡¡¡El ciclón Maripili ha arrasado Colombia!!!.
31. Mejoras tecnológicas Precio Cantidad O 1 D 1 E 1 E 2 Un incremento en la oferta … P 2 P 1 Q 1 Q 2 … provoca un movimiento a lo largo de la curva de demanda hacia un menor precio y una mayor cantidad de equilibrio Bajada de precios Aumento de producción O 2 Innovaciones tecnológicas: Provocan una mayor productividad y con ella una mayor oferta
32. Desplazamientos simultáneos de la oferta y la demanda Aumenta la demanda y disminuye la oferta: Dos fuerzas opuestas determinan el nuevo punto de equilibrio El incremento de la demanda domina sobre la disminución de la oferta. Cantidad de café Q 2 Q 1 P 2 P 1 S 2 D 2 D 1 S 1 E 1 E 2 (a) Un resultado posible: Aumento de precio y producción Precio del café Pequeña disminución de la oferta Fuerte aumento de demanda
33. Desplazamientos simultáneos de la oferta y la demanda Aumenta la demanda y disminuye la oferta Dos fuerzas opuestas determinan el nuevo punto de equilibrio. Q 1 Q 2 P 2 P 1 S 2 D 2 D 1 S 1 E 1 E 2 (b) Otra posibilidad: Aumentan los precios, disminuye la cantidad Precio del café Cantidad de café Fuerte disminución de oferta Pequeño incremento de la demanda La disminución de la oferta domina sobre el incremento de la demanda .
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35. Desplazamientos simultáneos de las curvas de oferta y demanda Incremento de oferta Disminución de oferta Incremento de demanda Precio : ? Cantidad : aumenta Precio : Incrementa Cantidad : ? Disminución de demanda Precio : disminuye Cantidad : ? Precio : ? Cantidad : disminuye
43. Demanda mundial de aceite D 10.0 9.9 $21 20 Precio del barril A 0 Cantidad (millones ) B Cuando el precio aumenta a 21$ por barril, la cantidad demandada cae a 9,9 millones (punto B). Dado un precio de 20$ por barril, la cantidad mundial de aceite demandada es de 10 millones de barriles por día (punto A).
44. Cálculo de la elasticidad precio del aceite 21$ por barril Cambio % el precio = ---------------------- X 100= 5% 20$ por barril 0.1 millones de barriles Cambio % en la Q demandada = ---------------------------------- X 100= 1% 10 millones de barriles 1% Elasticidad precio de la demanda = -------= 0.2 5%
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46. Método del punto medio. Ejemplo. 200 Cambio % de Q = ----------------------- X 100= 20% (1,100+900) / 2 0.2 Cambio % de P = ----------------------- X 100= 20% (0.2+1.1) / 2 20 % Elasticidad precio = --------- = 1 20 % Precio Cantidad demandada (millones) Situación A $ 0,90 1.100,00 Situación B $ 1,10 900,00
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52. Área del ingresos total 1,100 0 $0.90 Precio del peaje D Ingreso Total = precio x cantidad = $990 Cantidad de coches (por día)
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55. Elasticidad precio de la demanda e ingresos totales Precio inicial Precio final 0,90 € 1,1 Demanda con elasticidad unitaria (elasticidad precio de la demanda=1) Cantidad demandada 1.100 900 Ingreso Total 990,00 € 990,00 € Demanda inelástica ( elasticidad precio de la demanda= 0,5) Cantidad demandada 1.050 950 Ingreso Total 945,00 € 1.045,00 € Demanda elástica (elasticidad precio de la demanda = 2) Cantidad demandada 1.200 800 Ingreso Total 1.080,00 € 880,00 €
56. D 0 0 1 2 3 4 5 6 7 10 9 8 $25 24 21 16 9 Cantidad Ingreso total 0 1 2 3 4 5 6 7 10 9 8 $10 9 8 7 6 5 4 3 2 1 Cantidad Precio Demanda elástica: mayores precios menores ingresos Elástica Inelástica Elasticidad unitaria Demanda inelástica: mayores precios mayores ingresos $0 1 2 3 4 5 6 7 8 9 10 0 9 16 21 24 25 24 21 16 9 0 10 9 8 7 6 5 4 3 2 1 0 Ingreso Total Cantidad demandada Plan de demanda e ingresos total para una curva de demanda lineal Precio La elasticidad precio de la demanda cambia a lo largo de la curva de demanda
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60. Dos casos extremos en la elasticidad precio de la oferta (a) Oferta perfectamente inelástica: Precio elasticidad de la oferta = 0 100 0 Cantidad de frecuencias de radio $3,000 2,000 Precio de las frecuencias de radio O 1 … deja la cantidad ofertada invariable Cuando aumenta el precio… (b) Oferta perfectamente elástica: Precio elasticidad de la oferta= ∞ 0 Cantidad de pizzas $12 Precio de cada pizza S 2 Para cualquier cantidad por encima de 12$ la cantidad ofertada es infinita Para un precio igual a $12, los productores producirán cualquier cantidad. Para cualquier precio por debajo de 12 $ la cantidad ofertada es cero
Teaching hint to the instructor : Some students have less patience with definitions than others. To keep all of the classroom awake and alive, you might want to start with an example of a good which is bought and sold in a highly competitive market. I sometimes pick a student with white sport socks or flip-flaps and ask them questions to make them come up with the definition of a competitive market themselves.
Teaching hint to the instructor : Asking the students about their willingness to pay and how it changes with price always catches their attention. For example, the “tickets” mentioned in the slide above can be baseball tickets, basketball tickets, ballet tickets, movie tickets or plane tickets to Bermuda. Different students will have different willingness to pay, and it will also change with price.
Figure Caption: Figure 3-2: An increase in demand An increase in the population and other factors generate an increase in demand—a rise in the quantity demanded at any given price. This is represented by the two demand schedules—one showing demand in 2002, before the rise in population, the other showing demand in 2006, after the rise in population—and their corresponding demand curves. The increase in demand shifts the demand curve to the right.
Figure Caption: Figure 3-3: Movement Along the Demand Curve Versus Shift of the Demand Curve The rise in quantity demanded when going from point A to point B reflects a movement along the demand curve: it is the result of a fall in the price of the good. The rise in quantity demanded when going from point A to point C reflects a shift of the demand curve: it is the result of a rise in the quantity demanded at any given price.
Figure Caption: Figure 3-5: Individual Demand Curves and the Market Demand Curve Darla and Dino are the only two consumers of coffee beans in the market. Panel (a) shows Darla’s individual demand curve: the number of pounds of coffee beans she will buy per year at any given price. Panel (b) shows Dino’s individual demand curve. Given that Darla and Dino are the only two consumers, the market demand curve, which shows the quantity of coffee demanded by all consumers at any given price, is shown in panel (c). The market demand curve is the horizontal sum of the individual demand curves of all consumers. In this case, at any given price, the quantity demanded by the market is the sum of the quantities demanded by Darla and Dino.
Figure Caption: Figure 3-6: The Supply Schedule and the Supply Curve The supply curve and the supply schedule reflect the fact that supply curves are usually upward sloping: the quantity supplied rises when the price rises.
Figure Caption: Figure 3-7: An increase in supply The entry of Vietnam into the coffee bean business generated an increase in supply—a rise in the quantity supplied at any given price. This event is represented by the two supply schedules—one showing supply before Vietnam’s entry, the other showing supply after Vietnam came in—and their corresponding supply curves. The increase in supply shifts the supply curve to the right.
Figure Caption: Figure 3-8: Movement Along the Supply Curve Versus Shift of the Supply Curve The increase in quantity supplied when going from point A to point B reflects a movement along the supply curve: it is the result of a rise in the price of the good. The increase in quantity supplied when going from point A to point C reflects a shift of the supply curve: it is the result of an increase in the quantity supplied at any given price.
Figure Caption: Figure 3-10: Individual Supply Curves and the Market Supply Curve Panel (a) shows the individual supply curve for Mr. Figueroa, S Figueroa , the quantity of coffee beans he will sell at any given price. Panel (b) shows the individual supply curve for Mr. Bien Pho, S Bien Pho . The market supply curve, which shows the quantity of coffee beans supplied by all producers at any given price, is shown in panel (c). The market supply curve is the horizontal sum of the individual supply curves of all producers.
Hint to the instructor: It could be useful to go over the “Pitfall: Bought and Sold?” at this point of the lecture: PITFALLS: BOUGHT AND SOLD? We have been talking about the price at which a good is bought and sold , as if the two were the same. But shouldn’t we make a distinction between the price received by sellers and that paid by buyers? In principle, yes; but it is helpful at this point to sacrifice a bit of realism in the interests of simplicity - by assuming away the difference between the prices received by sellers and those paid by buyers. In reality, people who sell hockey tickets to scalpers, while they sometimes receive high prices, generally receive less than those who eventually buy these tickets will pay. No mystery there: that difference is how a scalper, or for that matter any “middleman” - someone who brings buyers and sellers together - makes a living. In many markets,
Figure Caption: Figure 3-11: Market Equilibrium Market equilibrium occurs at point E, where the supply curve and the demand curve intersect. In equilibrium, the quantity demanded is equal to the quantity supplied. In this market, the equilibrium price is $1 per pound and the equilibrium quantity is 10 billion pounds per year.
Figure Caption: Figure 3-14: Equilibrium and Shifts of the Demand Curve The original equilibrium in the market for coffee is at E 1, at the intersection of the supply curve and the original demand curve, D 1. A rise in the price of tea, a substitute, shifts the demand curve rightward to D 2. A shortage exists at the original price, P 1, causing both the price and quantity supplied to rise, a movement along the supply curve. A new equilibrium is reached at E 2, with a higher equilibrium price, P 2, and a higher equilibrium quantity, Q 2. When demand for a good or service increases, the equilibrium price and the equilibrium quantity of the good or service both rise.
Figure Caption: Figure 3-15: Equilibrium and Shifts of the Demand Curve The original equilibrium in the market for coffee beans is at E 1. A drought causes a fall in the supply of coffee beans and shifts the supply curve leftward from S 1 to S 2. A new equilibrium is established at E 2, with a higher equilibrium price, P 2, and a lower equilibrium quantity, Q 2.
Figure Caption: Figure 3-16 (a) There is a simultaneous rightward shift of the demand curve and leftward shift of the supply curve. Here the increase in demand is relatively larger than the decrease in supply, so the equilibrium price and equilibrium quantity both rise.
Figure Caption: Figure 3-16 (b) There is also a simultaneous rightward shift of the demand curve and leftward shift of the supply curve. Here the decrease in supply is relatively larger than the increase in demand, so the equilibrium price rises and the equilibrium quantity falls.
Figure Caption: Figure 6-1: Demand for Vaccinations At a price of $20 per vaccination, the quantity of vaccinations demanded is 10 million per year (point A ). When price rises to $21 per vaccination, the quantity demanded falls to 9.9 million vaccinations per year (point B).
Figure Caption: Figure 6-4 (a): The green rectangle represents total revenue generated from 1,100 drivers who each pay a toll of $0.90.
Figure Caption: Figure 6-5: The Price Elasticity of Demand Changes Along the Demand Curve The upper panel shows a demand curve corresponding to the demand schedule in the table. The lower panel shows how total revenue changes along that demand curve: at each price and quantity combination, the height of the bar represents the total revenue generated. You can see that at a low price, raising the price increases total revenue. So demand is inelastic at low prices. At a high price, however, a rise in price reduces total revenue. So demand is elastic at high prices.
Figure Caption: Figure 6-6: Panel (a) shows a perfectly inelastic supply curve, which is a vertical line. The price elasticity of supply is zero: the quantity supplied is always the same, regardless of price. Panel (b) shows a perfectly elastic supply curve, which is a horizontal line. At a price of $12, producers will supply any quantity, but they will supply none at a price below $12. If price rises above $12, they will supply an extremely large quantity.