'Income consumption curve' presentation slideshows

INDIFFERENCE ANALYSIS

INDIFFERENCE ANALYSIS. Indifference curves constructing an indifference curve the shape of an indifference curve diminishing marginal rate of substitution an indifference map The budget line constructing a budget line effect of a change in income effect of a change in price.

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MANAGERIAL ECONOMICS 11 th Edition

MANAGERIAL ECONOMICS 11 th Edition. By Mark Hirschey. Consumer Demand. Chapter 4. Chapter 4 OVERVIEW. Utility Theory Indifference Curves Budget Constraints Individual Demand Demand Curves and Consumer Surplus Consumer Choice Optimal Consumption. utility nonsatiation principle

341 views • 18 slides

ECONOMICS FOR MANAGERS

ECONOMICS FOR MANAGERS. By Mark Hirschey. Consumer Behavior. Chapter 4. Chapter 4 OVERVIEW. Utility Theory Indifference Curves Budget Constraints Individual Demand Demand Curves and Consumer Surplus Consumer Choice Optimal Consumption. utility nonsatiation principle indifference

219 views • 18 slides

I 1

Indifference map & budget line. Y. Y i. r. Infeasible region. s. I 5. t. Y 1. I 4. I 3. u. I 2. v. I 1. feasible region. Y. O. X i. X 1. Optimal point : Where the budget line is tangent to the highest indifference curve. Introductory Economic Lecture 5. Introductory

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