微观经济学--消费者行为.pptVIP

结束 A utility function can be represented by a set of indifference curves, each with a numerical indicator. u(F,C) = FC This figure shows three indifference curves (with utility levels of 25, 50, and 100, respectively) associated with the utility function: Utility Functions 效用函数 Utility Functions 效用函数 There is no unique utility function representation of a preference relation. 一个给定的偏好关系的效用函数不止一个。 Suppose U(x1,x2) = x1x2 represents a preference relation.or Define V = U2 or V = 4U V preserves the same order as U and so represents the same preferences. u(F,C) = FC=k 效用函数与无差异曲线 The general equation for an indifference curve is U(x1,x2) o k, a constant. 一个效用函数可以用一个无差异曲线族来表示 Clothing (C) Budget constraints 预算约束 Market baskets associated with the budget line F + 2C = $80 ●budget constraints Constraints that consumers face as a result of limited incomes. ●budget line All combinations of goods for which the total amount of money spent is equal to income. TABLE 3.2 Market Baskets and the Budget Line A 0 40 $80 B 20 30 $80 D 40 20 $80 E 60 10 $80 G 80 0 $80 Market Basket Food (F) Total Spending Line AG (which passes through points B, D, and E) shows the budget associated with an income of $80, a price of food of PF = $1 per unit, and a price of clothing of PC = $2 per unit. The slope of the budget line (measured between points B and D) is ?PF/PC = ?10/20 = ?1/2. The Budget Line x1 x2 the budget constraint the budget line the budget constraint the budget line p1 M x1 x2 p2 M How to draw a budget line What determines its shape and position? p1 p2 Slope - the role of prices Position – the income Fixed by amount of money income M Income changes A change in income (with prices unchanged) causes the budget line to shift parallel to the original line (L1). When the income of $80 (on L1) is increased to $160, the budget line shifts outward to L2. If the income falls to $40, the line shifts inward to L3. The Effects of Changes in Income and Prices Budget c