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A curve may have equivalent parametrizations when there is a continuous increasing monotonic function relating the parameter of one curve to the parameter of the other. When there is a decreasing continuous function relating the parameters, then the parametric representations are opposite and the orientation of the curve is reversed. [1] [2]
This graph shows supply and demand as opposing curves, and the intersection between those curves determines the equilibrium price. An alteration of either supply or demand is shown by displacing the curve to either the left (a decrease in quantity demanded or supplied) or to the right (an increase in quantity demanded or supplied); this shift ...
At each price there is a single corresponding quantity of either good. Due to this, by modeling the good with the changing price as any particular good and the good with the unchanging price as all other goods, the price-consumption curve can be used to construct an individual's demand curve for any particular good. [1]
Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image.
Harrod–Johnson diagram; Hubbert curve; I. Identity line; Income–consumption curve; ... Media in category "Economics curves" This category contains only the ...
The Keynesian cross diagram is a formulation of the central ideas in Keynes' General Theory of Employment, Interest and Money.It first appeared as a central component of macroeconomic theory as it was taught by Paul Samuelson in his textbook, Economics: An Introductory Analysis.
Market behaviour will be determined by the consumers' indifference curves. The blue curves in the diagram represent indifference curves for Octavio, and are shown as convex from his viewpoint (i.e. seen from the bottom left). The orange curves apply to Abby, and are convex as seen from the top right.
The diagram juxtaposes a graph which has input price ratios as its horizontal axis, endowment ratios as its positive vertical axis, and output price ratios as its negative vertical axis. The diagram is named after economists Roy F. Harrod and Harry G. Johnson; the Samuelson-Harrod-Johnson name is in reference to economist Paul Samuelson. [3]