21 - 1 Copyright McGraw-Hill/Irwin, 2002 The Law of Demand Law of Diminishing Marginal Utility Total and Marginal Utility Theory of Consumer Behavior.
Expected Utility and Post-Retirement Investment and Spending Strategies William F. Sharpe STANCO 25 Professor of Finance Stanford University .
Basic assumptions of Marginal Utility Analysis Cardinal measurement of utility :- It is assumed that utility can be measured and can be given definite.
Econ326 Intermediate Microeconomics Fall 2011 Instructor: Ginger Z. Jin ginger TA: Aaron Szott.
DEMAND. Meaning of Demand Meaning and Definition of Demand According to Benham: The demand for anything, at a given price, is the amount of it, which.
Demand I. What is Demand? II. Change in Quantity Demanded III. Change in Demand IV. Diminishing Marginal Utility V. Demand Elasticity.
3 3 Consumer Choice: Individual and Market Demand.
Chapter 2: Modeling Individual Choice zPurposes of Chapter zVenture into microeconomics. zExamining the economic decision process of consumers, a key component.
Fundamentals of Markets © 2011 D. Kirschen and the University of Washington 1.
Chapter 4 Consumer Choice. © 2004 Pearson Addison-Wesley. All rights reserved4-2 Figure 4.1a Bundles of Pizzas and Burritos Lisa Might Consume.
CHAPTER 3 CONSUMER BEHAVIOUR -The indifference approach.
DEMAND “How Markets Work”. What is Demand? Ferrari F-430 Retail: $ 350,000 Lamborghini Gallardo Retail: $310,000 Rolex Crown Collection Retail: $ 64,
