{"id":8747,"date":"2018-05-29T19:59:04","date_gmt":"2018-05-29T19:59:04","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/changes-in-supply-and-demand\/"},"modified":"2024-04-25T21:32:06","modified_gmt":"2024-04-25T21:32:06","slug":"changes-in-supply-and-demand","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/chapter\/changes-in-supply-and-demand\/","title":{"raw":"Changes in Supply and Demand","rendered":"Changes in Supply and Demand"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\n<ul>\r\n \t<li>Describe the differences between changes in demand and changes in the quantity demanded<\/li>\r\n \t<li>Describe the differences between changes in supply and changes in quantity supplied<\/li>\r\n<\/ul>\r\n<\/div>\r\nIt's hard to overstate the importance of understanding the difference between shifts in curves and movements along curves. Remember, when we talk about changes in demand or supply, we do not mean the same thing as changes in\u00a0<em>quantity demanded<\/em> or <em>quantity supplied<\/em>.\r\n\r\nA change in <strong>demand<\/strong> refers to a shift in the entire demand curve, which is caused by a variety of factors (preferences, income, prices of substitutes and complements, expectations, population, etc.).\u00a0 In this case, the entire demand curve moves left or right.\r\n\r\n[caption id=\"attachment_9258\" align=\"aligncenter\" width=\"600\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060531\/econ_change_in_demand.png\"><img class=\"wp-image-9258\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195854\/econ_change_in_demand.png\" alt=\"A supply and demand graph showing three demand curves D0, D1, and D2, with arrows indicating that D0 can shift to become D1 or to D2.\" width=\"600\" height=\"382\" \/><\/a> <strong>Figure 1.\u00a0Change in Demand.<\/strong> A change in demand means that the entire demand curve shifts either left or right. The initial demand curve D<sub>0<\/sub> shifts to become either D<sub>1<\/sub> or D<sub>2<\/sub>. This could be caused by a shift in tastes, changes in population, changes in income, prices of substitute or complement goods, or changes future expectations.[\/caption]\r\n\r\nA change in <strong>quantity demanded<\/strong> refers to a movement along the demand curve, which is caused only by a change in price.\u00a0 In this case, the demand curve doesn't move; rather, we move along the existing demand curve.\r\n\r\n[caption id=\"attachment_9259\" align=\"aligncenter\" width=\"600\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060707\/econ_change_in_quantity_demand.png\"><img class=\"wp-image-9259\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195857\/econ_change_in_quantity_demand.png\" alt=\"A supply and demand graph showing a single demand curve, D0, with two arrows indicating movement along the curve in either direction.\" width=\"600\" height=\"385\" \/><\/a> <strong>Figure 2.<\/strong>\u00a0<strong>Change in Quantity Demanded.<\/strong> A change in the quantity demanded refers to movement along the existing demand curve, D<sub>0<\/sub>. This is a change in price, which is caused by a shift in the <em>supply<\/em> curve.[\/caption]\r\n\r\nSimilarly, a change in <strong>supply<\/strong> refers to a shift in the entire supply curve, which is caused by shifters such as taxes, production costs, and technology.\u00a0 Just like with demand, this means that the entire supply curve moves left or right.\r\n\r\n[caption id=\"attachment_9260\" align=\"aligncenter\" width=\"600\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060739\/econ_change_in_supply.png\"><img class=\"wp-image-9260\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195859\/econ_change_in_supply.png\" alt=\"A supply and demand graph showing three supply curves S0, S1, and S2, with arrows indicating that S0 can shift to become S1 or to S2.\" width=\"600\" height=\"382\" \/><\/a> <strong>Figure 3. Change in Supply.<\/strong> A change in supply means that the entire supply curve shifts either left or right. The initial supply curve S<sub>0<\/sub> shifts to become either S<sub>1<\/sub> or S<sub>2<\/sub>. This is caused by production conditions, changes in input prices, advances in technology, or changes in taxes or regulations.[\/caption]\r\n\r\nA change in <strong>quantity supplied<\/strong> refers to a movement along the supply curve, which is caused only by a change in price.\u00a0 Similar to demand, a change in quantity supplied means that we're moving along the existing supply curve.\r\n\r\n[caption id=\"attachment_9261\" align=\"aligncenter\" width=\"600\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060804\/econ_change_in_quantity_supplied.png\"><img class=\"wp-image-9261\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195903\/econ_change_in_quantity_supplied.png\" alt=\"A supply and demand graph showing a single supply curve, S0, with two arrows indicating movement along the curve in either direction.\" width=\"600\" height=\"385\" \/><\/a> <strong>Figure 4. Change in Quantity Supplied.<\/strong> A change in the quantity supplied refers to movement along the existing supply curve, S<sub>0<\/sub>. This is a change in price, caused by a shift in the <em>demand<\/em> curve.[\/caption]\r\n\r\nHere's one way to remember: a movement along a demand curve, resulting in a change in quantity demanded, is always caused by a shift in the supply curve. Similarly, a movement along a supply curve, resulting in a change in quantity supplied, is always caused by a shift in the demand curve.\r\n<div class=\"textbox examples\">\r\n<h3>Watch It<\/h3>\r\nWatch this video for another demonstration of the important distinction between these terms.\r\n\r\n<iframe src=\"https:\/\/www.youtube.com\/embed\/BwNzl15NOTI?rel=0&amp;start=8\" width=\"800\" height=\"425\" frameborder=\"0\"><\/iframe>\r\n\r\n<\/div>\r\n<div class=\"textbox tryit\">\r\n<h3>Try It<\/h3>\r\nTry graphing each of these situations to determine if they cause a shift in demand, quantity demanded, supply, or quantity supplied.\r\n\r\nhttps:\/\/assess.lumenlearning.com\/practice\/10c896a5-e752-4449-8a94-1409f9cc70e8\r\n\r\nhttps:\/\/assess.lumenlearning.com\/practice\/6958b844-c0a6-4e9e-a8dd-0348bceb8e21\r\n\r\nhttps:\/\/assess.lumenlearning.com\/practice\/df364ff9-6b5d-44e7-b8f8-9626efcac67b\r\n\r\nhttps:\/\/assess.lumenlearning.com\/practice\/b29afb3d-f47c-4001-83cf-706730b06d9d\r\n\r\n<\/div>\r\n<div class=\"textbox learning-objectives\">\r\n<h3>Glossary<\/h3>\r\n[glossary-page][glossary-term]demand: [\/glossary-term]\r\n[glossary-definition]the relationship between the price and the quantity demanded of a certain good or service[\/glossary-definition][glossary-term]quantity demanded:\u00a0[\/glossary-term][glossary-definition]the total number of units of a good or service consumers are willing to purchase at a given price[\/glossary-definition][glossary-term]quantity supplied:\u00a0[\/glossary-term][glossary-definition]the total number of units of a good or service producers are willing to sell at a given price[\/glossary-definition][glossary-term]shift in demand: [\/glossary-term]\r\n[glossary-definition]when a change in some economic factor (other than price) causes a different quantity to be demanded at every price[\/glossary-definition][glossary-term]shift in supply:\u00a0[\/glossary-term][glossary-definition]when a change in some economic factor (other than price) causes a different\u00a0quantity\u00a0to be supplied at every price[\/glossary-definition][glossary-term]supply:\u00a0[\/glossary-term]\r\n[glossary-definition]the relationship between price and the\u00a0quantity\u00a0supplied of a certain good or service[\/glossary-definition][\/glossary-page]\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<ul>\n<li>Describe the differences between changes in demand and changes in the quantity demanded<\/li>\n<li>Describe the differences between changes in supply and changes in quantity supplied<\/li>\n<\/ul>\n<\/div>\n<p>It&#8217;s hard to overstate the importance of understanding the difference between shifts in curves and movements along curves. Remember, when we talk about changes in demand or supply, we do not mean the same thing as changes in\u00a0<em>quantity demanded<\/em> or <em>quantity supplied<\/em>.<\/p>\n<p>A change in <strong>demand<\/strong> refers to a shift in the entire demand curve, which is caused by a variety of factors (preferences, income, prices of substitutes and complements, expectations, population, etc.).\u00a0 In this case, the entire demand curve moves left or right.<\/p>\n<div id=\"attachment_9258\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060531\/econ_change_in_demand.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9258\" class=\"wp-image-9258\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195854\/econ_change_in_demand.png\" alt=\"A supply and demand graph showing three demand curves D0, D1, and D2, with arrows indicating that D0 can shift to become D1 or to D2.\" width=\"600\" height=\"382\" \/><\/a><\/p>\n<p id=\"caption-attachment-9258\" class=\"wp-caption-text\"><strong>Figure 1.\u00a0Change in Demand.<\/strong> A change in demand means that the entire demand curve shifts either left or right. The initial demand curve D<sub>0<\/sub> shifts to become either D<sub>1<\/sub> or D<sub>2<\/sub>. This could be caused by a shift in tastes, changes in population, changes in income, prices of substitute or complement goods, or changes future expectations.<\/p>\n<\/div>\n<p>A change in <strong>quantity demanded<\/strong> refers to a movement along the demand curve, which is caused only by a change in price.\u00a0 In this case, the demand curve doesn&#8217;t move; rather, we move along the existing demand curve.<\/p>\n<div id=\"attachment_9259\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060707\/econ_change_in_quantity_demand.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9259\" class=\"wp-image-9259\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195857\/econ_change_in_quantity_demand.png\" alt=\"A supply and demand graph showing a single demand curve, D0, with two arrows indicating movement along the curve in either direction.\" width=\"600\" height=\"385\" \/><\/a><\/p>\n<p id=\"caption-attachment-9259\" class=\"wp-caption-text\"><strong>Figure 2.<\/strong>\u00a0<strong>Change in Quantity Demanded.<\/strong> A change in the quantity demanded refers to movement along the existing demand curve, D<sub>0<\/sub>. This is a change in price, which is caused by a shift in the <em>supply<\/em> curve.<\/p>\n<\/div>\n<p>Similarly, a change in <strong>supply<\/strong> refers to a shift in the entire supply curve, which is caused by shifters such as taxes, production costs, and technology.\u00a0 Just like with demand, this means that the entire supply curve moves left or right.<\/p>\n<div id=\"attachment_9260\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060739\/econ_change_in_supply.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9260\" class=\"wp-image-9260\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195859\/econ_change_in_supply.png\" alt=\"A supply and demand graph showing three supply curves S0, S1, and S2, with arrows indicating that S0 can shift to become S1 or to S2.\" width=\"600\" height=\"382\" \/><\/a><\/p>\n<p id=\"caption-attachment-9260\" class=\"wp-caption-text\"><strong>Figure 3. Change in Supply.<\/strong> A change in supply means that the entire supply curve shifts either left or right. The initial supply curve S<sub>0<\/sub> shifts to become either S<sub>1<\/sub> or S<sub>2<\/sub>. This is caused by production conditions, changes in input prices, advances in technology, or changes in taxes or regulations.<\/p>\n<\/div>\n<p>A change in <strong>quantity supplied<\/strong> refers to a movement along the supply curve, which is caused only by a change in price.\u00a0 Similar to demand, a change in quantity supplied means that we&#8217;re moving along the existing supply curve.<\/p>\n<div id=\"attachment_9261\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2017\/09\/21060804\/econ_change_in_quantity_supplied.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9261\" class=\"wp-image-9261\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2042\/2018\/05\/29195903\/econ_change_in_quantity_supplied.png\" alt=\"A supply and demand graph showing a single supply curve, S0, with two arrows indicating movement along the curve in either direction.\" width=\"600\" height=\"385\" \/><\/a><\/p>\n<p id=\"caption-attachment-9261\" class=\"wp-caption-text\"><strong>Figure 4. Change in Quantity Supplied.<\/strong> A change in the quantity supplied refers to movement along the existing supply curve, S<sub>0<\/sub>. This is a change in price, caused by a shift in the <em>demand<\/em> curve.<\/p>\n<\/div>\n<p>Here&#8217;s one way to remember: a movement along a demand curve, resulting in a change in quantity demanded, is always caused by a shift in the supply curve. Similarly, a movement along a supply curve, resulting in a change in quantity supplied, is always caused by a shift in the demand curve.<\/p>\n<div class=\"textbox examples\">\n<h3>Watch It<\/h3>\n<p>Watch this video for another demonstration of the important distinction between these terms.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/BwNzl15NOTI?rel=0&amp;start=8\" width=\"800\" height=\"425\" frameborder=\"0\"><\/iframe><\/p>\n<\/div>\n<div class=\"textbox tryit\">\n<h3>Try It<\/h3>\n<p>Try graphing each of these situations to determine if they cause a shift in demand, quantity demanded, supply, or quantity supplied.<\/p>\n<p>\t<iframe id=\"assessment_practice_10c896a5-e752-4449-8a94-1409f9cc70e8\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/10c896a5-e752-4449-8a94-1409f9cc70e8?iframe_resize_id=assessment_practice_id_10c896a5-e752-4449-8a94-1409f9cc70e8\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<p>\t<iframe id=\"assessment_practice_6958b844-c0a6-4e9e-a8dd-0348bceb8e21\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/6958b844-c0a6-4e9e-a8dd-0348bceb8e21?iframe_resize_id=assessment_practice_id_6958b844-c0a6-4e9e-a8dd-0348bceb8e21\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<p>\t<iframe id=\"assessment_practice_df364ff9-6b5d-44e7-b8f8-9626efcac67b\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/df364ff9-6b5d-44e7-b8f8-9626efcac67b?iframe_resize_id=assessment_practice_id_df364ff9-6b5d-44e7-b8f8-9626efcac67b\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<p>\t<iframe id=\"assessment_practice_b29afb3d-f47c-4001-83cf-706730b06d9d\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/b29afb3d-f47c-4001-83cf-706730b06d9d?iframe_resize_id=assessment_practice_id_b29afb3d-f47c-4001-83cf-706730b06d9d\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe><\/p>\n<\/div>\n<div class=\"textbox learning-objectives\">\n<h3>Glossary<\/h3>\n<div class=\"titlepage\">\n<dl>\n<dt>demand: <\/dt>\n<dd>the relationship between the price and the quantity demanded of a certain good or service<\/dd>\n<dt>quantity demanded:\u00a0<\/dt>\n<dd>the total number of units of a good or service consumers are willing to purchase at a given price<\/dd>\n<dt>quantity supplied:\u00a0<\/dt>\n<dd>the total number of units of a good or service producers are willing to sell at a given price<\/dd>\n<dt>shift in demand: <\/dt>\n<dd>when a change in some economic factor (other than price) causes a different quantity to be demanded at every price<\/dd>\n<dt>shift in supply:\u00a0<\/dt>\n<dd>when a change in some economic factor (other than price) causes a different\u00a0quantity\u00a0to be supplied at every price<\/dd>\n<dt>supply:\u00a0<\/dt>\n<dd>the relationship between price and the\u00a0quantity\u00a0supplied of a certain good or service<\/dd>\n<\/dl>\n<\/div>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-8747\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Modification, adaptation, and original content. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Supply, and Equilibrium in Markets for Goods and Services. <strong>Authored by<\/strong>: OpenStax College. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/cnx.org\/contents\/aWGdK2jw@11.346:D3bzsNhU@8\/Demand-Supply-and-Equilibrium-\">https:\/\/cnx.org\/contents\/aWGdK2jw@11.346:D3bzsNhU@8\/Demand-Supply-and-Equilibrium-<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em>. <strong>License Terms<\/strong>: Download for free at http:\/\/cnx.org\/contents\/4061c832-098e-4b3c-a1d9-7eb593a2cb31@11.11<\/li><li>Graphs on shifting curves. <strong>Provided by<\/strong>: Florida State College at Jacksonville. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/cel.fscj.edu\/LOR\/eco\/2013\/2\/img\/ECO2013-U2-pg4.1.jpg\">https:\/\/cel.fscj.edu\/LOR\/eco\/2013\/2\/img\/ECO2013-U2-pg4.1.jpg<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Supply and Demand Terminology. <strong>Provided by<\/strong>: Marginal Revolution University. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=BwNzl15NOTI\">https:\/\/www.youtube.com\/watch?v=BwNzl15NOTI<\/a>. <strong>License<\/strong>: <em>Other<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":29,"menu_order":18,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Modification, adaptation, and original content\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Supply, and Equilibrium in Markets for Goods and Services\",\"author\":\"OpenStax College\",\"organization\":\"\",\"url\":\"https:\/\/cnx.org\/contents\/aWGdK2jw@11.346:D3bzsNhU@8\/Demand-Supply-and-Equilibrium-\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"Download for free at http:\/\/cnx.org\/contents\/4061c832-098e-4b3c-a1d9-7eb593a2cb31@11.11\"},{\"type\":\"copyrighted_video\",\"description\":\"Supply and Demand Terminology\",\"author\":\"\",\"organization\":\"Marginal Revolution University\",\"url\":\"https:\/\/www.youtube.com\/watch?v=BwNzl15NOTI\",\"project\":\"\",\"license\":\"other\",\"license_terms\":\"Standard YouTube License\"},{\"type\":\"cc\",\"description\":\"Graphs on shifting curves\",\"author\":\"\",\"organization\":\"Florida State College at Jacksonville\",\"url\":\"https:\/\/cel.fscj.edu\/LOR\/eco\/2013\/2\/img\/ECO2013-U2-pg4.1.jpg\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"31ee4925-a209-4962-a153-610e706574d8,c686fb03-d2b2-4e79-9156-746be86225b1,6a0d8fe2-d8d9-4a54-ba8b-abdd38f0ef91","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-8747","chapter","type-chapter","status-publish","hentry"],"part":8691,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/users\/29"}],"version-history":[{"count":6,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8747\/revisions"}],"predecessor-version":[{"id":10102,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8747\/revisions\/10102"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/parts\/8691"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/8747\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/media?parent=8747"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=8747"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/contributor?post=8747"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-microeconomics\/wp-json\/wp\/v2\/license?post=8747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}