北京大学光华微观经济学ChapterConsumerBehavior.pptVIP

(2)Effects of p1 decrease from p1’ to p1” Original budget set x2 x1 m/p2 m/p1’ m/p1” New affordable choices Budget constraint pivots; slope flattens from -p1’/p2 to -p1”/p2 -p1’/p2 -p1”/p2 (2)Effects of p1 decrease from p1’ to p1” New, smaller budget set x2 x1 m/p2 m/p1’ m/p1” New affordable choices Budget constraint pivots; slope is steeper from -p1’/p2 to -p1”/p2 -p1’/p2 -p1”/p2 2.2.2 Application of Budget Constraint 1. Sales Taxes and budget constraint Proportional or ad valorem sales tax（从价税） Levied at proportional rate t Increases price from p to (1+t)p Changes budget constraint to (1+t)p1x1 + (1+t)p2x2 = m p1x1 + p2x2 = m/(1+t). Uniform Ad Valorem Sales Taxes x2 x1 p1x1 + p2x2 = m Uniform Ad Valorem Sales Taxes x2 x1 p1x1 + p2x2 = m p1x1 + p2x2 = m/(1+t) Uniform Ad Valorem Sales Taxes x2 x1 Equivalent income lossis 2. A Budget Set With Rationing（实物配给） Suppose good 1 were rationed so that no more than x could be consumed by a given consumer. __ p1x1+ p2x2≤m x1≤x1 ___ Taxing Consumption Greater Than x1 ___ In this budget line the consumer must pay a tax only on the consumption of good 1 that is in excess of x so the budget line becomes steeper to the right of x __ __ 3.The Food Stamp Program（食品券） Food stamps Popular income support program Coupons（优待券） given to poor (used to be sold) Can be legally exchanged only for food Popular with some donors (“in kink” transfers) Popular with agricultural interests The Food Stamp Program What is effect on budget constraint? Suppose I = $100 pF = $1 Price of “all other goods” is pG = $1 Budget constraint is F + G =100 Key factor: Income available for “other goods” does not change with receipt of food stamps Suppose receive food stamps good for 40 units of food The Food Stamp Program G F 100 100 F + G = 100: before stamps. The Food Stamp Program（食品券计划） G F 100 100 F + G = 100: before stamps. Budget set after 40 foodstamps issued. 140 40 The Food S