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EC1002 Chapter 6 Lesson 1 - Horizontal General Equilibrium Explained [Full]
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Welcome to the Real Quickienomics. You are watching the full version of EC1002 Introduction to Economics Chapter 6 Lesson 1 - Horizontal General Equilibrium.
Key Topics:
- What is General Equilibrium and how is it different from the rest of the equilibriums that we have learned?
- Horizontal versus Vertical General Equilibrium: What's the difference?
- What is horizontal general equilibrium?
- Can the price of one good affect the price of another?
- How can the market for one good affect the market for another good?
- A simple breakdown of the mathematical analysis to horizontal general equilibrium.
- How does the law of demand illustrated in the math?
- Deriving the excess demand curves for 2 different goods that affect the market price for both goods.
- Deriving the horizontal equilibrium prices for both goods when excess demand for both goods is zero.
Key Topics:
- What is General Equilibrium and how is it different from the rest of the equilibriums that we have learned?
- Horizontal versus Vertical General Equilibrium: What's the difference?
- What is horizontal general equilibrium?
- Can the price of one good affect the price of another?
- How can the market for one good affect the market for another good?
- A simple breakdown of the mathematical analysis to horizontal general equilibrium.
- How does the law of demand illustrated in the math?
- Deriving the excess demand curves for 2 different goods that affect the market price for both goods.
- Deriving the horizontal equilibrium prices for both goods when excess demand for both goods is zero.
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