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lectures/intro_supply_demand.md

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# Introduction to Supply and Demand
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---
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jupytext:
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format_name: myst
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display_name: Python 3 (ipykernel)
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language: python
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name: python3
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---
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# Introduction to Supply and Demand
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## Outline
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We'll compare it to the quantity that emerges in a competitive equilibrium
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equilibrium that equates supply to demand.
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### Competitive Equilibrium
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Instead of equating quantities supplied and demanded, we'll can accomplish the same thing by equating demand price to supply price:
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* we'll derive **supply curves** from the problem of a producer who is price taker and maximizes his profits minus total costs that are described by a **cost function**.
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## Code
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```{code-cell} ipython3
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class SingleGoodMarket:
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