Demand 2 Consumer choice (optimal choice) • Situation 0. Given the budget I and the prices P X and P Y , the consumer chooses an optimal basket of goods (X,Y) using MRS X,Y = P X /P Y • Situation 1. • P X changes to P X ’ the budget line rotates • MRS X,Y...
1、Chapter 3 Elasticity Theory1The contents of the chapter 1.What is elasticity? 2. Elasticity of Demand 3. Elasticity of Supply21.What is elasticity?弹性elasticity: 自变量变动一个百分比所引起的因变量变动的百分比。(注意:不是因变量变动量与自变量变动量之比。) e= ( Y/Y)/( X/X)=(Y/ X)...
要素市场 厂商 二、需求理论（DemandTheory）2.1需求的定义需求是指消费者在一定时期内在各种可能的价格水平愿意并且能够购买的该商品的数量。需求是有效的需求。2.2影响需求的因素（1）商品本身价格priceitself（2）消费者收入consumerincome（3）相关商品价格priceofrelatedgoods （4）消费者偏好consumerpreference（5）...
39、re of a good when its price rises. Giffen goods Economists use the term Giffen good to describe a good that violates the law of demand. Giffen goods are goods for which an increase in the price raises the quantity demanded.Figure 12 A Giffen GoodQuantityof MeatQuantity ofPotatoes0I2I1...
•Theaggregatedemandscheduleisaschedulerelatingthetotaldemandinaneconomyforallthegoodsandservicestothepricelevel.•Aggregatedemandwithaggregatesupplydeterminesthepricelevel.AggregateDemandCurve•Theaggregatedemandcurveslopesdown.–Asthegeneralpricelevelrises,theamountofgoodsandservicesthatareproduceddecreases.•How...
微观经济理论3Elasticitytheory培训教材.ppt,Chapter 3 Elasticity Theory;The contents of the chapter ;1.What is elasticity?;2. Elasticity of Demand;2.1 Price elasticity of demand;; E.G. ;弹性公式Elasticity formula;;E.G.;;需求的价格弧弹性分类 The classificat
Partly as a result of the recently increasing demand, whole-sale tea prices have almost doubled. 部分由于最近日益增长的需求,批发茶价几乎翻了一番。 血浓于水。Blood is thicker than water. 人们笑贫不笑娼。People ridicule poverty but not prostitutes. All roads lead to Rome. 条条大路通罗马。
LAW OF EQUI-MARGINAL UTILITY (EMU) Definition The Law of Equi-Marginal Utility (EMU) states that other things being equal, a consumer gets maximum satisfaction when he allocates his limited income to the purchase of different goods, where the marginal utility derived from the last unit of mone...
With the development of the economy and high-tech industries, the demand for helium is increasing. Where to find and how to locate helium-rich resources are pressing concerns for explorers today. Since helium generation and enrichment laws differ significantly from those of natural gas, with ...
Power industry and food industry Long-run Production: This is a time period long enough for a firm to change the quantity of all of its inputs. Basic technology remains the same Eg. How would Apple respond to an increase in the demand for Iphone 6 in the short run and in the long ...