Slide 1DEMAND THEORY -III EA SESSION 4 5th JULY, 2007 PROF. SAMAR K. DATTA Slide 2 Overview of Session 4 Substitution and income effects Giffen goods Digression on derivation…
Slide 1Chapter 4 Individual and Market Demand Individual and Market Demand Slide 2 Chapter 4Slide 2 Topics to be Discussed Individual Demand Income and Substitution Effects…
Slide 1S643: Digital Entrepreneurship Spring 12 Defining your market I. Understanding the market What is a market? How does a digital market differ? II. Understanding the…
Slide 1 Slide 2 The responsiveness of one variable to changes in another When price rises, what happens to demand? Demand falls BUT! How much does demand fall? Slide 3 If…
Slide 1Scarcity Slide 2 Shortage Slide 3 Capital Slide 4 Physical capital Slide 5 Human capital Slide 6 Opportunity cost Slide 7 Standard of living Slide 8 Traditional economy…
Slide 1 Utility Maximization Continued July 5, 2005 Slide 2 Graphical Understanding Normal Indifference Curves Downward Slope with bend toward origin Slide 3 Graphical Non-normal…