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Supply, Demand, and Equilibrium

In: PRICE THEORY AND APPLICATIONS

Author

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  • Steven E. Landsburg

Abstract

Many books begin by telling you, at some length, what price theory is. This book begins by showing you. We’ll jump right in, develop some simple tools, and use them to solve some problems.How do air bags cause accidents? What determines the price of beef? When car dealers are taxed, how much of the tax gets “passed on” to buyers through higher prices? Are those buyers better or worse off than if they’d been taxed directly?By the time you’ve finished this chapter, you’ll know how to tackle such questions, and you’ll have a good sense of what price theory is all about. It’s time to dig in.

Suggested Citation

  • Steven E. Landsburg, 2024. "Supply, Demand, and Equilibrium," World Scientific Book Chapters, in: PRICE THEORY AND APPLICATIONS, chapter 1, pages 1-36, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811263316_0001
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