chapter_3ConsumerBehavior(微观经济学-华侨大学,Jeff
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E
D
Food
30
40 (units per week)
Consumer Preferences
Clothing (units per week)
50
40
30
20
10
B H
A
G
10
20
Combination B,A, & D yield the same satisfaction •E is preferred to U1 •U1 is preferred to H & G
Consumer Preferences
Market Baskets
A market basket is a collection of one or more commodities.
One market basket may be preferred over another market basket containing a different combination of goods.
Chapter 3
Consumer Behavior
Topics to be Discussed
Consumer Preferences Budget Constraints Consumer Choice Revealed Preferences
Topics to be Discussed
1) We will study consumer preferences.
To describe how and why people prefer one good to another.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
3) Finally, we will combine consumer preferences and budget constraints to determine consumer choices.
What combination of goods will consumers buy to maximize their satisfaction?
Consumer Preferences
Market Basket Units of Food Units of Clothing
A
20
30
B
10
50
D
40
20
E
30
40
G
10
20
H
10
40
Consumer Preferences
Indifference Curves
Indifference curves represent all combinations of market baskets that provide the same level of satiFra Baidu bibliotekfaction to a person.
2) Then we will turn to budget constraints.
People have limited incomes.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Apple-Cinnamon Cheerios The Food Stamp Program.
Consumer Behavior
General Mills had to determine how high a price to charge for AppleCinnamon Cheerios before it went to the market.
Consumer Preferences
Market Baskets
Three Basic Assumptions 1) Preferences are complete. 2) Preferences are transitive. 3) Consumers always prefer more of any good to less.
E
D U1
Food
30
40
(units per week)
Consumer Preferences
Consumer Behavior
When the food stamp program was established in the early 1960s, the designers had to determine to what extent the food stamps would provide people with more food and not just simply subsidize the food they would have bought anyway.
Consumer Behavior
These two problems require an understanding of the economic theory of consumer behavior.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Consumer Preferences
Clothing (units per week)
50
40
30
20
10
B H
A
G
10
20
The consumer prefers A to all combinations in the blue box, while all those in the pink box are preferred to A.
Marginal Utility and Consumer Choices Cost-of-Living Indexes
Consumer Behavior
Two applications that illustrate the importance of the economic theory of consumer behavior are:
D
Food
30
40 (units per week)
Consumer Preferences
Clothing (units per week)
50
40
30
20
10
B H
A
G
10
20
Combination B,A, & D yield the same satisfaction •E is preferred to U1 •U1 is preferred to H & G
Consumer Preferences
Market Baskets
A market basket is a collection of one or more commodities.
One market basket may be preferred over another market basket containing a different combination of goods.
Chapter 3
Consumer Behavior
Topics to be Discussed
Consumer Preferences Budget Constraints Consumer Choice Revealed Preferences
Topics to be Discussed
1) We will study consumer preferences.
To describe how and why people prefer one good to another.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
3) Finally, we will combine consumer preferences and budget constraints to determine consumer choices.
What combination of goods will consumers buy to maximize their satisfaction?
Consumer Preferences
Market Basket Units of Food Units of Clothing
A
20
30
B
10
50
D
40
20
E
30
40
G
10
20
H
10
40
Consumer Preferences
Indifference Curves
Indifference curves represent all combinations of market baskets that provide the same level of satiFra Baidu bibliotekfaction to a person.
2) Then we will turn to budget constraints.
People have limited incomes.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Apple-Cinnamon Cheerios The Food Stamp Program.
Consumer Behavior
General Mills had to determine how high a price to charge for AppleCinnamon Cheerios before it went to the market.
Consumer Preferences
Market Baskets
Three Basic Assumptions 1) Preferences are complete. 2) Preferences are transitive. 3) Consumers always prefer more of any good to less.
E
D U1
Food
30
40
(units per week)
Consumer Preferences
Consumer Behavior
When the food stamp program was established in the early 1960s, the designers had to determine to what extent the food stamps would provide people with more food and not just simply subsidize the food they would have bought anyway.
Consumer Behavior
These two problems require an understanding of the economic theory of consumer behavior.
Consumer Behavior
There are three steps involved in the study of consumer behavior.
Consumer Preferences
Clothing (units per week)
50
40
30
20
10
B H
A
G
10
20
The consumer prefers A to all combinations in the blue box, while all those in the pink box are preferred to A.
Marginal Utility and Consumer Choices Cost-of-Living Indexes
Consumer Behavior
Two applications that illustrate the importance of the economic theory of consumer behavior are: