Question: Chapter 2 topics . Demand (graphs and equations and shift factors). Demand curve equation is Q.*= f(P., Py , M, H,). Derive demand curve Q.

Chapter 2 topics . Demand (graphs and equations and shift factors). Demand curve equation is Q.*= f(P., Py , M, H,). Derive demand curve Q. = f(P. ) given values for Py, M and H. Be able to interpret how changes to Py, M and H values will affect demand. . Find inverse demand curve (P = f(Qd)) and be able to graph it. . Supply (graphs and equations and shift factors). Supply curve equation is Q. = f(P. , P. ,W, H,). Derive supply curve Q.' = f(P_) given values for Pr, W and H. Be able to interpret how changes to these variables will affect supply. Find inverse supply curve (P = f(Qs)) and be able to graph it. Difference between change in Q (quantity demanded) vs change in demand; likewise with change in Q' (quantity supplied) vs change in supply. Equilibrium (graphs and equations and changes in equilibrium from shifts in 5 or D or both) . Disequilibrium - surplus or shortage

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