微观经济学Individual and Market DemandPPT.ppt

Chapter 4;Topics to be Discussed;Individual Demand;Effect of a Price Change;Effect of a Price Change;Demand Curves – Important Properties;Effect of a Price Change;Individual Demand;Effects of Income Changes;Individual Demand;Individual Demand;Effects of Income Changes;Effects of Income Changes;Individual Demand;Individual Demand;An Inferior Good;Individual Demand;Engel Curves;Engel Curves;Annual US Household Consumer Expenditures;Substitutes Complements;Substitutes Complements;Substitutes Complements;Substitutes Complements;Income and Substitution Effects;Income and Substitution Effects;Income and Substitution Effects;Income and Substitution Effects;Income and Substitution Effects;Income and Substitution Effects;Income and SubstitutionEffects: Normal Good;Food (units per month);Income and Substitution Effects;Market Demand;Determining the Market Demand Curve;Summing to Obtain aMarket Demand Curve;Market Demand;Market Demand;Market Demand;Price Elasticity of Demand;Price Elasticity of Demand;Price Elasticity andConsumer Expenditure;Price Elasticity of Demand;The Aggregate Demand for Wheat;The Aggregate Demand for Wheat;The Aggregate Demand for Wheat;C;Consumer Surplus;Consumer Surplus;Consumer Surplus - Example;The consumer surplus of purchasing 6 concert tickets is the sum of the surplus derived from each one individually.;Consumer Surplus;Demand Curve;Applying Consumer Surplus;Applying Consumer Surplus – An Example;The Value of Clean Air;The Value of Cleaner Air;The shaded area represents the consumer surplus generated when air pollution is reduced by 5 parts per 100 million of nitrous oxide at a cost of $1000 per part reduced.;Value of Cleaner Air;Network Externalities;Network Externalities;Network Externalities;Network Externalities;Positive NetworkExternality: Bandwagon Effect;Positive NetworkExternality: Bandwagon Effect;Positive NetworkExternality: Bandwagon Effect;Network Externalities;Network Externality: Snob Effect;Network Externality: Snob