Basics of Supply and Demand

In course

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Description

This lecture covers the basics of supply and demand in economics, focusing on the relationship between the number of floors in a building and the profit generated. It explains how profit is maximized by analyzing the cost of production, willingness to accept, and factors influencing supply. The instructor discusses the determinants of willingness to accept, production costs, supply curves, and profit maximization in a competitive market.

Instructors (3)

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Official source

https://mediaspace.epfl.ch/media/0_0xyg7xzp

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Ontological neighbourhood

Economics

Macroeconomics: Competition, Markets

Microeconomics: Supply and demand

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