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ID:41673168
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页数:31页
时间:2019-08-29
《曼昆经济学原理英文版习题答案21章THETHEORYOFCONSU》由会员上传分享,免费在线阅读,更多相关内容在工程资料-天天文库。
1、WHAFSNEWINTHESEVENTHEDITION:Therearenomajorchangestothischapter.LEARNINGOBJECTIVES:Bytheendofthischapter,studentsshouldunderstand:>howabudgetconstraintrepresentsthechoicesaconsumercanafford・>howindifferencecurvescanbeusedtorepresentaconsumer'sprefere
2、nces.>howaconsumer'soptimalchoicesaredetermined・>howaconsumerrespondstochangesinincomeandchangesinprices・Ahowtodecomposetheimpactofapricechangeintoanincomeeffectandasubstitutioneffect.>howtoapplythetheoryofconsumerchoicetothreequestionsabouthousehold
3、behavior.CONTEXTANDPURPOSE:Chapter21isthefirstoftwounrelatedchaptersthatintroducestudentstoadvancedtopicsinmicroeconomics・Thesetwochaptersareintendedtowhettheirappetitesforfurtherstudyineconomics.Chapter21isdevotedtoanadvaneedtopicknownasthetheoryofc
4、onsumerchoice・ThepurposeofChapter21istodevelopthetheorythatdescribeshowconsumersmakedecisionsaboutwhattobuy.Sofar,thesedecisionshavebeensummarizedwiththedemandcurve・Thetheoryofconsumerchoiceunderliesthedemandcurve.Afterdevelopingthetheory,thetheoryis
5、appliedtoanumberofquestionsabouthowtheeconomyworks・KEYPOINTS:•Aconsumer'sbudgetconstraintshowsthepossiblecombinationsofdifferentgoodsshecanbuygivenherincomeandthepricesofthegoods・Theslopeofthebudgetconstraintequalstherelativepriceofthegoods.•Theconsu
6、mer5sindiffereneecurvesrepresentherpreferences・Anindiffereneecurveshowsthevariousbundlesofgoodsthatmaketheconsumerequallyhappy.Pointsonhigherindiffereneecurvesarepreferredtopointsonlowerindifferencecurves・Theslopeofanindifferencecurveatanypointisthec
7、onsumer'smarginalrateofsubstitution—therateatwhichtheconsumeriswillingtotradeonegoodfortheother.•Theconsumeroptimizesbychoosingthepointonherbudgetconstraintthatliesonthehighestindifferencecurve.Atthispoint,theslopeoftheindifferencecurve(themarginalra
8、teofsubstitutionbetweenthegoods)equalstheslopeofthebudgetconstraint(therelativepriceofthegoods),andtheconsumer'svaluationofthetwogoods(measuredbythemarginalrateofsubstitution)equalsthemarket'svaluation(measuredbytherelativeprice).•Whenthepriceofagood
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