About: Quantity Adjustment   Sponge Permalink

An Entity of Type : owl:Thing, within Data Space : 134.155.108.49:8890 associated with source dataset(s)

Def: The movement of a firm to a new demand curve by changing quantity produced rather than the price of the product produced. The assumption is that price is somewhat given (because of Nominal Price Rigidity), or at least less easy to predict the responce of price changes in the market. A given firm then can change the output to move more in line with its self-interest without risking as much. Quantity adjustment would be more likely to be employed when price would otherwise fall. "Prices seem to bear a relatively larger proportion of the adjustment burden when the shock is 'large', and vice versa for quantities when the shock is 'small'"[1].

AttributesValues
rdfs:label
  • Quantity Adjustment
rdfs:comment
  • Def: The movement of a firm to a new demand curve by changing quantity produced rather than the price of the product produced. The assumption is that price is somewhat given (because of Nominal Price Rigidity), or at least less easy to predict the responce of price changes in the market. A given firm then can change the output to move more in line with its self-interest without risking as much. Quantity adjustment would be more likely to be employed when price would otherwise fall. "Prices seem to bear a relatively larger proportion of the adjustment burden when the shock is 'large', and vice versa for quantities when the shock is 'small'"[1].
sameAs
dcterms:subject
abstract
  • Def: The movement of a firm to a new demand curve by changing quantity produced rather than the price of the product produced. The assumption is that price is somewhat given (because of Nominal Price Rigidity), or at least less easy to predict the responce of price changes in the market. A given firm then can change the output to move more in line with its self-interest without risking as much. Quantity adjustment would be more likely to be employed when price would otherwise fall. "Prices seem to bear a relatively larger proportion of the adjustment burden when the shock is 'large', and vice versa for quantities when the shock is 'small'"[1].
Alternative Linked Data Views: ODE     Raw Data in: CXML | CSV | RDF ( N-Triples N3/Turtle JSON XML ) | OData ( Atom JSON ) | Microdata ( JSON HTML) | JSON-LD    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3217, on Linux (x86_64-pc-linux-gnu), Standard Edition
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2012 OpenLink Software