文档介绍：Chapter4:IndividualandMarketDemand41CHAPTER4INDIVIDUALANDMARKETDEMANDTEACHINGNOTESChapter4reliesontwoimportantideasfromChapter3:echangesonthebudgetline,,eandsubstitutioneffectsofapricechange,derivingmarketdemand,demandelasticity,,,,(apivotofthebudgetline)eeffectexplainstheportionofthechangeindemandcausedbyachangeinpurchasingpower(ashiftofthebudgetline).(aGiffengood).(seeChapter14).Whencoveringtheaggregationofindividualdemandcurves,,youmusthavedemandwrittenintheformQ=f(P)asopposedtotheinversedemandP=f(Q).,