1. Budget Constraint PA = $12 PB = $2.40 Income = $72 7 6 5 4 3 2 1 0 5 10 15 20 25 30 35 40 45 50 A B 0 __ 1 __ 2 __ 3 __ 4 __ 5 __ 6 __ Choices are based on Comparisons…

Chapter 6 theory of Consumer behavior Chapter 2 talks about market demand, but market is made of many individuals with different incomes, tastes, etc. Individual consumer…

Chap 21 Consumer Behavior & Utility Maximization By: Anabel Gonzalez & Amanda Reina A Closer Look at the Law of Demand Income Effect: Lower the price of a product,…

By: Brian Murphy Consumer has an income of $200 and wants to buy two fixed goods: hats and guns. Price of hats is $20 and price of shirts is $30. Consumer wants to buy a…

Chap 21 Consumer Behavior & Utility Maximization By: Anabel Gonzalez & Amanda Reina A Closer Look at the Law of Demand Income Effect: Lower the price of a product,…

Экономика, методичка