Chap05微观经济学原理.ppt

Demand TheBenefitSideofTheMarket Chapter5 Demand TheBenefitSideoftheMarket Slide2 TheLawofDemand Peopledolessofwhattheywanttodoasthecostofdoingitrises Chapter5 Demand TheBenefitSideoftheMarket Slide3 TheLawofDemand Thebenefitofanactivityequalsthehighestpricewe dbewillingtopaytopursueit i e thereservationprice Asthecostofanactivityrisesandexceedsthereservationprice lessoftheactivitywillbepursued Chapter5 Demand TheBenefitSideoftheMarket Slide4 TheLawofDemand TheOriginsofDemandWhatdetermines tastes or preferences BiologyCulturePeerInfluences Chapter5 Demand TheBenefitSideoftheMarket Slide5 TheLawofDemand EconomicNaturalistNeedsvs WantsWhydoesCaliforniaexperiencechronicwatershortages Chapter5 Demand TheBenefitSideoftheMarket Slide6 TranslatingWantsintoDemand Howshouldweallocateourincomesamongthevariousgoodsandservicesthatareavailable Chapter5 Demand TheBenefitSideoftheMarket Slide7 TranslatingWantsintoDemand MeasuringWants TheConceptofUtilityUtilityThesatisfactionpeoplederivefromtheirconsumptionactivitiesAssumptionPeopleallocatetheirincometomaximizetheirsatisfactionortotalutility Chapter5 Demand TheBenefitSideoftheMarket Slide8 Sarah sTotalUtilityfromIceCreamConsumption Conequantity cones hour Totalutility utils hour 001502903120414051506140 HowmuchicecreamshouldSarahconsumeiftheicecreamis free Chapter5 Demand TheBenefitSideoftheMarket Slide9 Sarah sTotalUtilityfromIceCreamConsumption Cones hour Utils hour 1 3 4 5 6 0 2 Chapter5 Demand TheBenefitSideoftheMarket Slide10 TranslatingWantsIntoDemand WhatshouldSarahdowhenshegetstothefrontoftheline Whatdoyouthink Isthetimespentinthelinerelevanttohowmanyconestoorder Chapter5 Demand TheBenefitSideoftheMarket Slide11 Sarah sTotalUtilityandMarginalUtilityfromIceCreamConsumption ConequantityTotalutilityMarginalutility cones hour utils hour utils cone 001502903120414051506140 5040302010 10 Chapter5 Demand TheBenefitSideoftheMarket Slide12 DiminishingMarginalUtility Cones hour Utils cone 1 3 4 5 0 1 5 0 5 4 3 5 2 5 2 Chapter5 Demand TheBenefitSideoftheMarket Slide13 TranslatingWantsintoDemand TheLawofDiminishingMarginalUtilityThetendencyfortheadditionalutilitygainedfromconsuminganadditionalunitofagoodtodiminishasconsumptionincreasesbeyondsomepoint Chapter5 Demand TheBenefitSideoftheMarket Slide14 TranslatingWantsintoDemand AllocatingAFixedIncomeBetweenTwoGoodsAssumeTwogoods ChocolateandvanillaicecreamPriceofchocolateequals 2 pintPriceofvanillaequals 1 pintSarah sbudget 400 yrCurrentlySarahisconsuming200pintsofvanillaand100pintsofchocolate Chapter5 Demand TheBenefitSideoftheMarket Slide15 TranslatingWantsintoDemand QuestionIsSarahmaximizinghertotalutility Chapter5 Demand TheBenefitSideoftheMarket Slide16 MarginalUtilityCurvesforTwoFlavorsofIceCream I Pints yr Marginalutilityofvanillaicecream utils pint Marginalutilityofchocolateicecream utils pint Pints yr Chapter5 Demand TheBenefitSideoftheMarket Slide17 TranslatingWantsintoDemand Marginalutilityvanilla P 12 1 12utils Marginalutilitychocolate P16 2 8utils Chapter5 Demand TheBenefitSideoftheMarket Slide18 TranslatingWantsintoDemand IfSarahspends 2lessonchocolate utilswilldeclineby16 IfSarahspends 2moreonvanilla utilswillincreaseby24So Sarahshouldbuymorevanilla Chapter5 Demand TheBenefitSideoftheMarket Slide19 MarginalUtilityCurvesforTwoFlavorsofIceCream II Pints yr Marginalutilityofvanillaicecream utils pint Chapter5 Demand TheBenefitSideoftheMarket Slide20 MarginalUtilityCurvesforTwoFlavorsofIceCream II Marginalutilityofchocolateicecream utils pint Pints yr Chapter5 Demand TheBenefitSideoftheMarket Slide21 MarginalUtilityCurvesforTwoFlavorsofIceCream III Pints yr Marginalutilityofvanillaicecream utils pint 10 250 Chapter5 Demand TheBenefitSideoftheMarket Slide22 MarginalUtilityCurvesforTwoFlavorsofIceCream III Marginalutilityofchocolateicecream utils pint Pints yr 20 75 Chapter5 Demand TheBenefitSideoftheMarket Slide23 TranslatingWantsintoDemand TheRationalSpendingRuleSpendingshouldbeallocatedacrossgoodssothatthemarginalutilityperdollaristhesameforeachgood Chapter5 Demand TheBenefitSideoftheMarket Slide24 TranslatingWantsintoDemand TheRationalSpendingRuleHowistherationalspendingrulerelatedtothecost benefitprinciple Chapter5 Demand TheBenefitSideoftheMarket Slide25 TranslatingWantsintoDemand IncomeandSubstitutionEffectsRevisitedHowshouldSarahrespondtoareductioninthepriceofchocolateicecream Chapter5 Demand TheBenefitSideoftheMarket Slide26 MarginalUtilityCurvesforTwoFlavorsofIceCream III Pints yr Marginalutilityofvanillaicecream utils pint Marginalutilityofchocolateicecream utils pint Pints yr Chapter5 Demand TheBenefitSideoftheMarket Slide27 TranslatingWantsintoDemand AssumeBudget 400PC 2 PV 1QC 75 QV 250 Chapter5 Demand TheBenefitSideoftheMarket Slide28 TranslatingWantsintoDemand AssumePriceofchocolatefallsto 1 Chapter5 Demand TheBenefitSideoftheMarket Slide29 ApplyingtheRationalSpendingRule EconomicNaturalistWhydothewealthyinManhattanliveinsmallerhousesthanthewealthyinSeattle Chapter5 Demand TheBenefitSideoftheMarket Slide30 ApplyingtheRationalSpendingRule EconomicNaturalistWhydidpeopleturntofour cylindercarsinthe1970sonlytoshiftbacktosix andeight cylindercarsinthe1990s Chapter5 Demand TheBenefitSideoftheMarket Slide31 ApplyingtheRationalSpendingRule EconomicNaturalistWhyareautomobileenginessmallerinEnglandthanintheUnitedStates Chapter5 Demand TheBenefitSideoftheMarket Slide32 ApplyingtheRationalSpendingRule TheImportanceofIncomeDifferencesWhyarewaitinglineslongerinpoorerneighborhoods Chapter5 Demand TheBenefitSideoftheMarket Slide33 IndividualandMarketDemandCurvesforCannedTuna Price can Smith squantity 12 6 14 16 10 8 6 4 2 0 cans week 2 4 8 Price can Jones squantity 12 6 14 16 10 8 6 4 2 0 cans week 2 4 8 Smith HorizontalAddition Chapter5 Demand TheBenefitSideoftheMarket Slide34 IndividualandMarketDemandCurvesforCannedTuna Chapter5 Demand TheBenefitSideoftheMarket Slide35 TheIndividualandMarketDemandCurvesWhenAllBuyersHaveIdenticalDemandCurves Price can Totalquantity 6 6 5 4 3 2 1 0 cans month 2 4 8 12 10 D Totalquantity 6 6 5 4 3 2 1 0 1000sofcans month 2 4 8 12 10 Price can Eachof1 000consumershavethesamedemandMarketDemand Pxnumberofconsumers 1 000 Chapter5 Demand TheBenefitSideoftheMarket Slide36 DemandandConsumerSurplus ConsumerSurplusThedifferencebetweenabuyer sreservationpriceforaproductandthepriceactuallypaid Chapter5 Demand TheBenefitSideoftheMarket Slide37 AMarketwitha Digital DemandCurve Units day Marginalutilityofvanillaicecream utils pint 1 1 2 3 4 5 6 7 8 9 10 11 12 2 3 4 5 6 7 8 9 10 11 12 0 Chapter5 Demand TheBenefitSideoftheMarket Slide38 ConsumerSurplus Units d