Slide 11 Introductory Microeconomics Indifference Curves Slide 2 2 Example: To encourage education, a government is considering three different options: A lump-sum cash to…

1. 1 Indifference Curves 2. 2 Example:  To encourage education, a government is considering three different options: A lump-sum cash to kids of school age. A matching…

1. Indifference Curves: An Example (pp. 65 - 79) Market BasketUnits of FoodUnits of ClothingA2030B1050D4020E3040G1020H1040©2005 Pearson Education, Inc.Chapter 31 2. Indifference…

Slide 1Chapter 3 Consumer Behavior Slide 2 Question: Mary goes to the movies eight times a month and seldom goes to a bar. Tom goes to the movies once a month and goes to…

Slide 1 Schedule of Classes September, 3 September, 10 September, 17 – in-class#1 September, 19 – in-class#2 September, 24 – in-class#3 (open books) September, 25,…

Slide 1 1 Consumer Behavior Chapter 3 Slide 2 2 theory of consumer behavior Description of how consumers allocate incomes among different goods and services to maximize their…

Principles of Economics Session 3 Topics To Be Discussed Consumer Preferences Budget Constraints Consumer Choice Marginal Utility Substitution and Income Effect Topics to…

Consumer Behavior Three steps involved in the study of consumer behavior 1) Study consumer preferences To describe how and why people prefer one good to another. 2) Turn…