Master Yoda's powers have been greatly exaggerated.

That's an exaggeration.

If we talk about an actual quantity, we should say the quantity demanded.

Why is that important?

So some of you may be thinking,

The report exaggerated the capacity of the hall.

It's a fond memory of times past.

And so, for any given price point, the demand would increase.

We have to meet the demand.

Let me write that in green.

Scenario E, I raise it to 10.

Disproportionately superfluous and class etc...

When everything else is equal and you're only changing price, you're not changing demand.

If we lower the price of a product, that will raise the quantity demanded of that product.

Even the new Jack 2 field in the gulf of Mexico would only supply a few months of domestic demand.

And we can use it to launch nanosatellites into orbit.

Tom tends to exaggerate.

I hope, for our sake, they exaggerate.

Or another way to think of it is, is this entire demand curve.

Why?

Actually, we're going to start with aggregate demand and then start talking about aggregate supply.

So this demand curve will also have the same shape from the top left to the bottom right it satisfies the law of demand.

You led me to suppose you were a substantial business man.

I've told you a million times not to exaggerate.

The supply demand balance is tight.

They decide to sell their house.

WRlTING Demand goes up.

There is more people that have money in their pockets.

So population goes up.

no not to rise up not to add to this

So income goes down, demand goes up.

(Laughter)

Scenario B, I could raise the price by 2.

So, it would shift the demand curve to the right or it would increase demand.

And so essentially, it will shift, it will change the entire demand curve.

I'd rather have than just getting more of this thing right over here

So, income goes up, then that increases demand.

And I had this captured market. You didn't need contracts.

This is the total numbers of cupcakes all of the factories in the market can produce.

This column let me put my price.

So Scenario A, price is 2 60,000 units are demanded.

So it's now at 4 and then that kills off a lot of the demand.

I spin the biggest yarns west of the rockies!

And so if income goes up for this laptop, the demand will increase.

When we hold everything else equal, we're moving along a given demand curve.