这也就解释了为什么 IC 是一个向原点去凸的弧线(concaved),而不是直线,这个题 essay 会考。以上 3 点加起来,就是针对“indifference curve ”的 essay 的答案。 二、Budget line: 1. 如果说 IC 反映的是“爽”,那么 budget line 反映的就是...
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From this indifference curve data, we have created 5 indifference curves, as shown in our indifference curve graph. Each line represents the combination of hours we can assign to each worker in order to get the same number of hockey skates assembled. The values of each line are as follows: ...
From this indifference curve data, we have created 5 indifference curves, as shown in our indifference curve graph. Each line represents the combination of hours we can assign to each worker in order to get the same number of hockey skates assembled. The values of each line are as follows: ...
The point at which a consumer’s budget line is tangent to his indifference curve (i.e. Point E) is the combination he consumes. The indifference curve analysis can be used to explain the substitution effect and income effect.
In a budget line/indifference curve diagram, at the consumer equilibriumA.any movement upward or downward on the budget line will move the consumer to a less preferred point.B.any movement to the northeast to higher indifference curves moves the consumer
Budget Line Equation Budget line is also termed as a budget constraint due to the fact that even though a consumer will strive to achieve maximum utility across the indifference curve, he or she faces two very robust constraints - market price of commodities and limited income. Income acts as...
In an indifference curve/budget line diagram, generally when the price of a good increases, the consumer purchases ___ of the good and moves to a ___ indifference curve. (在无差异曲线/预算线图中,一般当价格涨幅较大时,消费者购买 _ _ _ _ _ _ _ _的优点,并移动到 _ _ _ ___ 无差异...
The budget line changes which means lower price makes the affordable region larger.3 Optimization: Interior SolutionNow the consumer's problem is: how to be as happy as possible with limited income. We can simplify the problem into language of mathematics: xPx + yPy I max U(x, y) subject...