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  • We've talked a little bit about the law of demand which

  • tells us all else equal, if we raise the price of a product,

  • then the quantity demanded for that product will go down.

  • Common sense.

  • If we lower the price, than the quantity demanded will go up,

  • and we'll see a few special cases for this.

  • But what I want to do in this video is focus

  • on these other things that we've been holding equal,

  • the things that allow us to make this statement, that

  • allow us to move along this curve,

  • and think about if we were to change one of those things,

  • that we were otherwise considering

  • equal, how does that change the actual curve?

  • How does that actually change the whole quantity

  • demanded price relationship?

  • And so the first of these that I will focus on,

  • the first is the price of competing products.

  • So if you assume that the price of-- actually I

  • shouldn't say competing products,

  • I'll say the price of related products,

  • because we'll see that they're not competing.

  • The price of related products is one of the things

  • that we're assuming is constant when we, it's beheld equal when

  • we show this relationship.

  • We're assuming that these other things aren't changing.

  • Now, what would happen if these things changed?

  • Well, imagine we have, say, other ebooks-- books

  • is price-- price goes up.

  • The price of other ebooks go up.

  • So what will that do to our price

  • quantity demanded relationship?

  • If other ebooks prices go up, now all of a sudden, my ebook,

  • regardless of what price point we're at,

  • at any of the price points, my ebook

  • is going to look more desirable.

  • At $2, it's more likely that people will want it,

  • because the other stuff's more expensive.

  • At $4 more people will want it, at $6 more people will want it,

  • $8 more people will want it, at $10 more people will want it.

  • So if this were to happen, that would actually

  • shift the entire demand curve to the right.

  • So it would start to look something like this.

  • That is scenario one.

  • And these other ebooks, we can call them

  • substitutes for my product.

  • So this right over here, these other ebooks,

  • these are substitutes.

  • People might say, oh, you know, that other book looks

  • kind of comparable, if one is more expensive

  • or one is cheaper, maybe I'll read one or the other.

  • So in order to make this statement, in order

  • to stay along this curve, we have

  • to assume that this thing is constant.

  • If this thing changes, this is going to move the curve.

  • If other ebooks prices go up, it'll

  • probably shift our curve to the right.

  • If other ebooks prices go down, that

  • will shift our entire curve to the left.

  • So this is actually changing our demand.

  • It's changing our whole relationship.

  • So it's shifting demand to the right.

  • So let me write that.

  • So this is going to shift demand.

  • So the entire relationship, demand, to the right.

  • I really want to make sure that you have this point clear.

  • When we hold everything else equal,

  • we're moving along a given demand curve.

  • We're essentially saying the demand, the price

  • quantity demanded relationship, is held constant,

  • and we can pick a price and we'll

  • get a certain quantity demanded.

  • We're moving along the curve.

  • If we change one of those things,

  • we might actually shift the curve.

  • We'll actually change this demand schedule,

  • which will change this curve.

  • Now, there other related products,

  • they don't just have to be substitutes.

  • So, for example, let's think about scenario two.

  • Or maybe the price of a Kindle goes up.

  • Let me write this this way.

  • Kindle's price goes up.

  • Now, the Kindle is not a substitute.

  • People don't either buy an ebook or they won't either

  • buy my ebook or a Kindle.

  • Kindle is a compliment.

  • You actually need a Kindle or an iPad or something like it

  • in order to consume my ebook.

  • So this right over here is a complement.

  • So if a complement's price becomes more expensive,

  • and this is one of the things people

  • might use to buy my book, then it would actually,

  • for any given price, lower the quantity demanded.

  • So in this situation, if my book is

  • $2, since fewer people are going to have Kindles,

  • or since maybe they used some of their money

  • already to buy the Kindle, they're

  • going to have less to buy my book or just fewer

  • people will have the Kindle, for any given price is going

  • to lower the quantity demanded.

  • And so it'll essentially will shift,

  • it'll change the entire demand curve will shift the demand

  • curve to the left.

  • So this right over here is scenario two.

  • And you could imagine the other way,

  • if the Kindle's price went down, then

  • that would shift my demand curve to the right.

  • If the price of substitutes went down,

  • then that would shift my entire curve to the left.

  • So you can think about all the scenarios,

  • and actually I encourage you to.

  • Think about drawing yourself, think about for products,

  • that could be an ebook or could be some other type of product,

  • and think about what would happen.

  • Well, one, think about what the related products are,

  • the substitutes and potentially complements, and then

  • think about what happen as those prices change.

  • And always keep in mind the difference between demand,

  • which is this entire relationship, the entire curve

  • that we can move along if we hold everything else equal

  • and only change price, and quantity demanded,

  • which is a particular quantity for our particular price

  • holding everything else equal.

We've talked a little bit about the law of demand which

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相關產品的價格和需求 (Price of Related Products and Demand)

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    Bravo001 發佈於 2021 年 01 月 14 日
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