Microeconomics Study Guide
Indifference Curves Locus of points representing different bundles of two goods, each of which yields the same level of total utility. It is a graphical.
SARBJEET KAUR Lecturer in Economics Indifference Curve Analysis.
Fundamentals of Microeconomics. Puzzle Why the consumers are so different? Consumer preferences Budget constraints What amount and types of goods.
Consumer Equilibrium and Market Demand Chapter 4.
Indifference Curve Analysis 1. Develop indifference curves 2. Develop budget constraint 3. Some basic analysis: a. changes in prices; b. changes in income;
1 EC 500 Chapter 4 The Theory of Individual Behavior.
CHAPTER 4 The Theory of Individual Behavior McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.
Individual and market demand. Outcomes Derive individual demand curve Effect of change in price and income on the demand curve Market demand curve Consumer.
Consumer Theory (Applications) Tutorial 5. Page 2 Applying Consumer Theory Using consumer theory, we can examine the changes in the consumer choices.
CHAPTER 5 CONSUMER CHOICE AND UTILITY MAXIMIZATION
UC Education Plus L3 Economics – Making Internal assessments part of your teaching and learning programmes Derek McLauchlan14 th + 15 th June 2013 [email protected].
