'Indifference curve' presentation slideshows

Demand & Utility

Demand & Utility. What is Utility?. Satisfaction, happiness, benefit. Cardinal Utility vs. Ordinal Utility. Cardinal Utility : Assigning numerical values to the amount of satisfaction

1.45k views • 117 slides

Chapter 3 Consumer Behaviour I --- The Indifference Curve Approach

Chapter 3 Consumer Behaviour I --- The Indifference Curve Approach. Contents:. Postulates of Consumer Behaviour Good, Bad and Neuter Utility Indifference Curve Properties of Indifference Curves of Two Goods Other Shapes of Indifference Curves Budget Line Consumer Equilibrium.

1.17k views • 93 slides

The Family as an Economic Unit

The Family as an Economic Unit. The Neoclassical Model of Specialization & Exchange. Basic underlying assumption: The family is a unit whose adult members make informed and rational decisions that maximize the well-being of the family.

1.53k views • 89 slides

CH 2 PWPT

Study

665 views • 60 slides

18.1 OPTIMAL CONTRACT DESIGNED FOR A SINGAL PARTY

1.96k views • 59 slides

Chapter 6

Chapter 6. Production. Introduction. Production decisions of a firm are similar to consumer decisions Can also be broken down into three steps: Production Technology Describe how inputs can be transformed into outputs Inputs: land, labor, capital and raw materials

692 views • 56 slides

Possibilities, Preferences, and Choices

607 views • 45 slides

1k views • 38 slides

Tastes / Preferences

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Demand and Consumer Theory

572 views • 37 slides

Theory of Consumer Behavior

Theory of Consumer Behavior. Chapter 3. Topics of Discussion. Utility Theory Total Utility (Satisfaction) Marginal Utility Meet Carl or Carla Consumer Law of Diminishing Marginal Utility. Indifference Curves Concept of Isoutility Marginal Rate of Substitution.

372 views • 30 slides

CHAPTER 3

542 views • 28 slides

Indifference Curves

Indifference Curves. An indifference curve shows a set of consumption bundles among which the individual is indifferent. Quantity of Y. Combinations (X 1 , Y 1 ) and (X 2 , Y 2 ) provide the same level of utility. Y 1. Y 2. U 1. Quantity of X. X 1. X 2. Marginal Rate of Substitution.

3.13k views • 24 slides

Consumer Behavior

Chapter 7. Consumer Behavior . Chapter Objectives. Total utility and marginal utility Law of diminishing marginal utility Marginal utility-to-price ratios Deriving the demand curve Income and substitution effects Appendix: the indifference curve model. 7- 2. Utility.

610 views • 24 slides

Intermediate Microeconomics

430 views • 20 slides

Lecture 5: Arrow-Debreu Economy

Lecture 5: Arrow-Debreu Economy. The following topics are covered: Arrow-Debreu securities Pricing Arrow-Debreu securities Optimal portfolios of Arrow Debreu securities How Arrow-Debreu securities differ framework differs from the standard utility maximization? Implications in asset pricing

1.32k views • 19 slides

3. Demand and Behavior in Markets

3. Demand and Behavior in Markets. assume for now that perfectly competitive markets are given. How they arose will be discussed in part 4. properties of perf. comp. markets: any agent can exchange as much of any good as desired at a fixed given price

283 views • 16 slides

Chapter 4 homework

Chapter 4 homework. Questions 6, 8, and 16. Managerial Economics & Business Strategy. Chapter 4 The Theory of Individual Behavior. Normal Good. Income effect (+) Substitution effect (+) Total effect (+) How Draw??. Clothing. A. C. B. Substitution Effect. Food. Income Effect.

299 views • 12 slides

Chapter 8

Chapter 8 . Slutsky Equation. How the optimum moves when the price of a good changes?. Decomposition : the total effect = the substitution effect + the income effect . p139 . The pivot gives the substitution effect , the shift gives

588 views • 8 slides

International Trade Models

International Trade Models. ECN 3860 International Economics. Why Nations Trade. International trade provides us with a variety of goods and services from other countries; International trade promotes specialization and efficiency in production; and

367 views • 7 slides