Ch 4. The Market Forces of Supply and Demand

.title[
# Ch 4. The Market Forces of Supply and Demand
]
.subtitle[
## Microeconomics I
]
.author[
### Lyuben Ivanov, PhD
]
.institute[
### Sofia University St Kliment Ohridski
]
.date[
### Fall Term 2025/2026
]

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.pull-right-2[
_Supply and demand are at the heart of how
market economies work... If one thing
separates economists from mere mortals, it
is an appreciation of the power of markets
as a mechanism for allocating scare
resources._
<hr style="background-color: black; margin: 0em 0em 0em 0em;">
<span style="float: right; font-variant: small-caps; "> Gregory Mankiw (1998) </span>
]

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.pull-right-2[
_If you want to make a first-class economist,
catch a parrot and teach him to say
'supply and demand' in response to every question
you ask him. What determines wages?
Supply and demand. What determines
interest? Supply and demand. What
determines the distribution of wealth?
Supply and demand._
<hr style="background-color: black; margin: 0em 0em 0em 0em;">
<span style="float: right; font-variant: small-caps; "> Anonymous economist </span>
]

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class: clear, middle, no-scribble
  
  .font200[
<strong>  Markets And Competition</strong>
]
<hr>

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# Questions?

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# Thank You!

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