Jun 21st, 2015
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Price-Demand And Price-SupplyEquations From Basic Assumptions.V.I.G.Menon 1Chief Consultant, Yahovan Centre for Excellence,12/403,W Block, Anna Nagar West Extension, Chennai,India-600101,, Phone: : :+91984 0600251, +919962952559.Author is grateful to Giri Menon for his Valuable Suggestions.AbstractThe dependence of demand or supply on price is established in the form equations from simple assumptions. Also this dependence is explored in the Matrix form ,as well as using the mean of the parameters Price,Wage ,Supply and Demand Quantities for a community as a market. The paper thus explores the conditions under which the standard demand/supply relations hold with respect to price.Analysis of the wage,price,demand graph shows expected trends.And the improvised approach to understanding the elasticities of demand based on the basic equations show that for goods with ve price elasticities of demand ,income elasticities of demand is positive,and vice versaIntroductionThe dependence of price on demand or supply is the most basic relation that supports the micro economic thought everywhere. In the following we discuss why this Natural Law holds.Price-Demand DependencyWe assume a buyer with a fixed wage Wb for any given period of the wage cycle, buying Qi amounts of a good at price Pi. Figue 1 Gives the Matrix where the rows 1 to B are the buyers and Columns 1 to S are the sellers

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