MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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˹éÒ 182
... line of the table . The budget equation is У Qs = - P P P m S Qm2 This equation tells us how the consumption level of one good varies as consumption of the other good varies . To interpret the equation , let's go back to the budget line ...
... line of the table . The budget equation is У Qs = - P P P m S Qm2 This equation tells us how the consumption level of one good varies as consumption of the other good varies . To interpret the equation , let's go back to the budget line ...
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... budget equation is or Qs = 30 S 6 - Q1 = 5 - Qm2 S Qm Figure 8.2 ( b ) shows the new budget line . Notice this time ... budget lines in parts ( a ) and ( b ) of Fig . 8.2 . In part ( a ) , both movies and soda cost $ 3 ; in part ( b ) ...
... budget equation is or Qs = 30 S 6 - Q1 = 5 - Qm2 S Qm Figure 8.2 ( b ) shows the new budget line . Notice this time ... budget lines in parts ( a ) and ( b ) of Fig . 8.2 . In part ( a ) , both movies and soda cost $ 3 ; in part ( b ) ...
˹éÒ 190
... budget line and so spends her entire income on the two goods . She is also on the highest attainable indifference curve . Higher indifference curves ( such as 2 ) do not touch her budget line , and so she cannot afford any point on them ...
... budget line and so spends her entire income on the two goods . She is also on the highest attainable indifference curve . Higher indifference curves ( such as 2 ) do not touch her budget line , and so she cannot afford any point on them ...
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amount average benefit budget calculate called capital cars CHAPTER choices cloth competitive consumer consumption corn cost curve countries decreases demand curve depends determined dollars economic effect elasticity elasticity of demand equal equilibrium example expected Explain factor falls Figure firms future given graph higher hour household illustrates important income increases individual industry input interest labor less long-run look loss lower marginal cost marginal revenue marginal utility measured million monopoly month opportunity cost output percent percentage person possible preferences problem production profit quantity demanded questions regulation relationship rent result rises scale sell shifts short-run shown shows slope soda sold substitution supply curve sweaters tapes theory things tion total cost trade units utility variable wage wage rate wealth week workers