Chapter 6 Supply of Labor to the Economy: The Decision to Work.
INDIFFERENCE ANALYSIS Indifference curvesIndifference curves –constructing an indifference curve –the shape of an indifference curve –diminishing marginal.
Chapter 3 McGraw-Hill/IrwinCopyright © 2010 The McGraw-Hill Companies, Inc. All rights reserved.
CHAPTER 3 CONSUMER BEHAVIOUR -The indifference approach.
Copyright © 2009 Pearson Education, Inc. 6- 1 Topic 3. Chapters 6 & 7 Supply of Labor.
Consumers’ preferences ECO61 Udayan Roy Fall 2008.
1 Consumer Behavior Chapter 3. 2 theory of consumer behavior Description of how consumers allocate incomes among different goods and services to maximize.
level of happiness or satisfaction associated with alternative choices a term referring to the satisfaction received by a consumer from consuming.
INDIFFERENCE CURVES AND UTILITY MAXIMIZATION Indifference curve – A curve that shows combinations of goods which gives the same level of satisfaction to.
INDIFFERENCE CURVES. Warm-up Question What do dating and marriage have to do with economics? Scarcity Choice Utility maximization.
