微观经济学-全英教案课件

Chapter4IndividualandmarketdemandTopicstobeDiscussed●|individua|DemandoIncomeandSubstitutionEffects●Marketdemand●ConsumerSurp|usNetworkexternalities32019PearsonEducation,IncChapter41.IndividualDemand●PriceChangesoUsingthefiguresdevelopedinthepreviouschapter,theimpactofachangeinthepriceoffoodcanbeillustratedusingindifferencecurvesoForeachpricechange,wecandeterminehowmuchofthegoodtheindividualwouldpurchasegiventheirbudgetlinesandindifferencecurves32019PearsonEducation,IncChapter4EffectofaPriceChangeClothingAssume10=$20Pc=$2PF=$2,$1,$0.506EachpriceleadstoDdifferentamountsofBfoodpurchasedFood(units2232019PearsonEducation,IncChapter4EffectofaPriceChangeClothingTheprice-10ConsumptionCurvetracesouttheutilitymaximizingmarketbasketforeachpricefTaoffoodDBFood(units2232019PearsonEducation,IncChapter4EffectofaPriceChangeBychangingpricesandshowingwhatDemandScheduletheconsumerwipurchase,wecanPQcreateademandscheduleand$200demandcurvefortheindividua$10012●Fromtheprevious0.5020example32019PearsonEducation,IncChapter4EffectofaPriceChangePriceoffoodEIndividualDemandrelates200thequantityofagoodthataconsumerwillbuytothepriceofthatgoodGiDemandCurve$504122032019PearsonEducation,IncChapter4DemandCurves-ImportantPropertiesoThelevelofutilitythatcanbeattainedchangesaswemovealongthecurveoAteverypointonthedemandcurve,theconsumerismaximizingutilitybysatistyingtheconditionthatthemrsoffoodforclothingequalstheratioofthepricesoffoodandclothing32019PearsonEducation,IncChapter4EffectofaPriceChangePriceofFoodEWhenthepricefallsP,/PcmrsalsofallE:P//Pc=22=1=MRSG:P=1/2=5=MRSG·H:P1/P=.5/2=25=MRS$100$501HDemandCurveFood(units41220permonth)32019PearsonEducation,IncChapter4IndividualdemandoIncomeChangesOUsingthefiguresdevelopedinthepreviouschapter,theimpactofachangeintheincomecanbeillustratedusingindifferencecurvesOChanging