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Tài liệu trung cấp môn Kinh tế vi mô bằng tiếng Anh - Phần 3

Tài liệu tham khảo Tài liệu trung cấp môn Kinh tế vi mô bằng tiếng Anh gồm 41 phần giúp sinh viên khoa kinh tế học tốt môn Kinh tế vi mô. Tài liệu này là phần 3 giới thiệu về " ngân sách hạn chế - budget contraint " | CHAPTER BUDGET CONSTRAINT The economic theory of the consumer is very simple economists assume that consumers choose the best bundle of goods they can afford. To give content to this theory we have to describe more precisely what we mean by best and what we mean by can afford. In this chapter we will examine how to describe what a consumer can afford the next chapter will focus on the concept of how the consumer determines what is best. We will then be able to undertake a detailed study of the implications of this simple model of consumer behavior. 2.1 The Budget Constraint We begin by examining the concept of the budget constraint. Suppose that there is some set of goods from which the consumer can choose. In real life there are many goods to consume but for our purposes it is convenient to consider only the case of two goods since we can then depict the consumer s choice behavior graphically. We will indicate the consumer s consumption bundle by a i x . This is simply a list of two numbers that tells us how much the consumer is choosing to consume of good 1 Xi and how much the consumer is choosing to TWO GOODS ARE OFTEN ENOUGH 21 consume of good 2 x . Sometimes it is convenient to denote the consumer s bundle by a single symbol like X where X is simply an abbreviation for the list of two numbers sq - We suppose that we can observe the prices of the two goods pi 2 and the amount of money the consumer has to spend m. Then the budget constraint of the consumer can be written as Pl l P2 2 ro- 2-1 Here p X is the amount of money the consumer is spending on good 1 and P2 2 is the amount of money the consumer is spending on good 2. The budget constraint of the consumer requires that the amount of money spent on the two goods be no more than the total amount the consumer has to spend. The consumer s affordable consumption bundles are those that don t cost any more than m. We call this set of affordable consumption bundles at prices pi p2 and income m the budget set of .