TAILIEUCHUNG - Lecture Managerial economics: Chapter 5 - Dr. Hasnain Naqvi

This chapter provides knowledge of the theory of individual behavior. The contents of this chapter include all of the following: Consumer behavior, indifference curve analysis, consumer preference ordering, constraints, the budget constraint, changes in income, changes in prices, consumer equilibrium, indifference curve analysis & demand curves, individual demand, market demand. | The Theory of Individual Behavior Overview I. Consumer Behavior Indifference Curve Analysis Consumer Preference Ordering II. Constraints The Budget Constraint Changes in Income Changes in Prices III. Consumer Equilibrium IV. Indifference Curve Analysis & Demand Curves Individual Demand Market Demand 4- Consumer Behavior Consumer Opportunities The possible goods and services consumer can afford to consume. Consumer Preferences The goods and services consumers actually consume. Given the choice between 2 bundles of goods a consumer either Prefers bundle A to bundle B: A B. Prefers bundle B to bundle A: A B. Is indifferent between the two: A B. 4- Indifference Curve Analysis Indifference Curve A curve that defines the combinations of 2 or more goods that give a consumer the same level of satisfaction. Marginal Rate of Substitution The rate at which a consumer is willing to substitute one good for another and maintain the same satisfaction level. I. II. III. Good Y .

• Kinh tế học
• Managerial economics
• Lecture Managerial economics
• Economic principles
• Kinh tế học quản lý
• Fundamentals of managerial economics
• Theory of individual behavior
• Market interactions
• Marginal analysis
• Marginal benefit
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Demand estimation
• Production function
• Costs of production
• Organizing production