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Comparative statics for demand and supply

663 bytes removed, 08:01, 20 September 2016
Downward-sloping supply curve: long run and competitive markets
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| contraction of demand curve, i.e., the demand curve moves downward/leftward || decrease in market size, decrease in income, decrease in price of [[substitute good]]s, increase in price of [[complementary good]]s, change in tastes and preferences, change in climate conditions, change in expectations of future prices || increases || decreases
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| expansion of supply curve, i.e., the supply curve moves upward/rightward || increase in number of suppliers, reduction in cost of production due to reduction in prices of factors of production || increases || decreases
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| contraction of supply curve, i.e., the supply curve moves downward/leftward || decrease in number of suppliers, increase in cost of production due to increase in prices of factors of production || decreases || increases
|}
 
Note that an "expansion" of the supply curve here is a ''bad'' thing because what it really means is that the marginal costs are going up. ''This needs to be clarified, it is confusing and somewhat paradoxical''.
==Monopolistic markets in the short run==
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