Tham khảo tài liệu 'chương 6 lý thuyết về sự lựa chọn của người tiêu dùng', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Chapter 6 The theory of consumer choice David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Four key elements in consumer choice Consumer’s income Prices of goods Consumer preferences The assumption that consumers maximize utility 6. See Section 6-1 in the main text. The budget line Income and prices together determine the combinations of the goods that the consumer can afford. The budget line separates the affordable from the unaffordable. Consider a student with a budget of £50 to spend on meals and films. A B C D E F G Price of meals is £5; price of films is £10. 6. Modelling consumer preferences Assume the consumer prefers more to less. Compared with point “a”: the consumer would prefer to be to the north-east . at “c” but prefers “a” to such points as “b” to the south-west. Quantity of meals Quantity of films a b c 6. Modelling consumer preferences (2) “a” is preferred to all points in the dominated region but the consumer would prefer any point in the preferred region to “a” points like “d” and “e” involve more of one good and less of the other compared with “a”. Quantity of meals Quantity of films a b c Preferred region Dominated region e d 6. An indifference curve like U2U2 shows all the consumption bundles that yield the same utility to the consumer ICs slope downwards (given our assumptions) their slope gets steadily flatter to the right ICs cannot intersect Modelling consumer preferences (3) Quantity of meals Quantity of films U2 U2 6. The consumer’s choice The choice point is at C where the budget line is at a tangent to an IC Points B and E are also affordable but give lower utility, being on a lower IC. U3 Quantity of meals Quantity of films U2 U2 U1 U3 U1 BL C E B The point at which utility is maximized is found by bringing together the ICs and the budget line 6. Adjustment to an income change A change in the consumer’s income shifts the budget | Chapter 6 The theory of consumer choice David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Four key elements in consumer choice Consumer’s income Prices of goods Consumer preferences The assumption that consumers maximize utility 6. See Section 6-1 in the main text. The budget line Income and prices together determine the combinations of the goods that the consumer can afford. The budget line separates the affordable from the unaffordable. Consider a student with a budget of £50 to spend on meals and films. A B C D E F G Price of meals is £5; price of films is £10. 6. Modelling consumer preferences Assume the consumer prefers more to less. Compared with point “a”: the consumer would prefer to be to the north-east . at “c” but prefers “a” to such points as “b” to the south-west. Quantity of meals Quantity of films a b c 6. Modelling consumer preferences (2) “a” is preferred to all points in
