A NOTE ON THE INDETERMINACY OF MARKET EQUILIBRIA FOLLOWING SIMULTANEOUS CHANGES IN DEMAND AND SUPPLY
Jon R. Hayden
(Division of Social and Behavioral Sciences, The Victoria College, Victoria, Texas 77901.)
103
Abstract
Simultaneous changes in demand and supply produce indeterminate results on equilibrium price or quantity. This paper provides a rigorous analysis of the factors responsible for indeterminacy and applies these findings to problems of tax and subsidy incidence and situations involving simultaneous shifts in money and goods markets in the IS‐LM model.
Citation
Hayden, J.R. (1993), "A NOTE ON THE INDETERMINACY OF MARKET EQUILIBRIA FOLLOWING SIMULTANEOUS CHANGES IN DEMAND AND SUPPLY", Studies in Economics and Finance, Vol. 15 No. 1, pp. 89-96. https://doi.org/10.1108/eb028710
Publisher
:MCB UP Ltd
Copyright © 1993, MCB UP Limited