Aplikasi fungsi linear : fungsi pemrintaan & penawaran

Summary

This lecture provides an in-depth explanation of demand and supply functions, key economic concepts that describe the relationship between producers and consumers. It covers the inverse relationship in demand (as price rises, demand falls) and the direct relationship in supply (as price rises, supply increases). The mathematical formulation of both functions is presented, along with graphical representations. The concept of market equilibrium is explained, where the quantity demanded equals the quantity supplied, determining the equilibrium price. The session concludes with an example of how demand and supply functions work in practice during a market transaction.

Takeaways

• 😀 The lecture discusses the economic concepts of demand, supply, and market equilibrium, focusing on the relationships between price and quantity.
• 😀 Demand refers to the relationship between the price of a good and the quantity demanded by consumers, where higher prices typically result in lower demand and vice versa.
• 😀 The demand function is mathematically represented as a negative sloping curve, indicating that price and quantity demanded have an inverse relationship.
• 😀 In a demand function, the general form is Qd = a + b * P, where P is the price, and the slope (b) is negative, reflecting the law of demand.
• 😀 The supply function, on the other hand, shows a direct relationship between price and the quantity supplied. When price increases, the quantity supplied also increases.
• 😀 The supply function is typically represented as Qs = a + b * P, where b is positive, indicating that as the price rises, the quantity supplied also rises.
• 😀 The equilibrium point in a market occurs when the quantity demanded equals the quantity supplied, which can be visually identified as the intersection of the demand and supply curves.
• 😀 The concept of equilibrium is key in understanding market dynamics, where the price and quantity at equilibrium satisfy both the consumer's demand and the producer's supply.
• 😀 The lecture uses practical examples, such as book prices in a market, to demonstrate how the demand and supply curves work in real-world scenarios.
• 😀 The equilibrium price and quantity can be calculated through algebraic methods by setting the demand and supply functions equal to each other and solving for the price (P) and quantity (Q).

Q & A

What is the Demand Function in economics?

The Demand Function represents the relationship between the price of a good and the quantity demanded by consumers. It shows that as the price of a good increases, the quantity demanded typically decreases, and vice versa.

How is the Demand Function mathematically expressed?

The Demand Function can be expressed as: P = a - bQ, where 'P' is the price of the good, 'a' is a constant, 'b' is the slope, and 'Q' is the quantity demanded.

What is the key relationship between price and demand?

There is an inverse relationship between price and demand. When the price increases, the quantity demanded decreases, and when the price decreases, the quantity demanded increases.

What is the mathematical form of the Demand Function discussed in the script?

The Demand Function discussed in the script is P = 15 - Q, where 'P' represents the price and 'Q' represents the quantity demanded.

What is the Supply Function in economics?

The Supply Function shows the relationship between the price of a good and the quantity supplied by producers. It indicates that as the price of a good increases, the quantity supplied also increases, and vice versa.

How is the Supply Function mathematically expressed?

The Supply Function can be expressed as: P = a + bQ, where 'P' is the price, 'a' is a constant, 'b' is the slope, and 'Q' is the quantity supplied.

What is the key relationship between price and supply?

There is a direct relationship between price and supply. When the price increases, the quantity supplied increases, and when the price decreases, the quantity supplied decreases.

What does the script say about the graph of the Demand Function?

The Demand Function is represented by a downward-sloping curve (negative slope), showing that as the price rises, the quantity demanded decreases.

What is Market Equilibrium and how is it achieved?

Market Equilibrium occurs when the quantity demanded equals the quantity supplied, resulting in an equilibrium price. It is achieved when the Demand Function and Supply Function intersect on the graph.

How do you calculate the equilibrium price and quantity?

To calculate the equilibrium price and quantity, set the Demand Function equal to the Supply Function and solve for the price (P) and quantity (Q). For example, from the equations P = 15 - Q and P = 3 + 0.5Q, solving yields the equilibrium price of 6 and quantity of 9.