1 / 8

Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani

Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani. Study Guide Week Four (Note: You must go over these slides and complete every task outlined here before Thursday, September 27). Don’t forget that. Aplia Assignment

rane
Download Presentation

Welcome to EC 209: Managerial Economics- Group A By: Dr. Jacqueline Khorassani

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Welcome to EC 209: Managerial Economics- Group ABy:Dr. Jacqueline Khorassani Study Guide Week Four (Note: You must go over these slides and complete every task outlined here before Thursday, September 27)

  2. Don’t forget that • Aplia Assignment • Is due before noon on Tuesday, September 25. • Don’t miss it.

  3. Chapter 4: The Theory of Individual Behavior • How does the indifference curve graphically and why? • Slope? • How does it reflect the properties of consumer preferences? • Family of indifference curves?

  4. What is a budget constraint? • Graph of budget line? • Slope? • Market rate of substitution? • Shifts? • Change in price? • Change in income

  5. Where does consumer equilibrium come from? • What does it mean? • Graphical representation? • How does a change in prices affect consumer equilibrium? • Substitute goods • Complement goods • How does a change in income affect consumer equilibrium? • Normal/inferior goods

  6. What is • the income effect of a price change? • Graphically? • The substitution effect of a price change? • Graphically?

  7. Marginal Utility • What is it? • How is it measured? • How does it relate to the indifference? • How does that relate to consumer equilibrium?

  8. Demand Curve • What is an individual demand curve? • How is it derived from consumer equilibrium? • What is a market demand curve? • How is it derived graphically? • How does a demand for a Giffen good look and why?

More Related