dr pjesky s guide to supply and demand a lecture supplement 1 or the magnificent price why do we study economists gain insight into how world works specifically want know pay for things that buy exist in markets 2 represent conflicting interests of buyers sellers producers what assumptions need make at an introductory level only assumption is both are takers this means neither nor have any real influence over paid market place 3 willingness ability consumer group consumers purchase good service every given all behavior represented by solution utility maximization problem able choose quantity everything else relevant decision consume out her control
