Lecture 8 Consumption and Consumer Society. Consumer behavior: The marketing view Why do consumers want what they want? Why do they buy what they buy?
6 Consumers, Producers, and the Efficiency of Markets What is utility and how is it measured? What is the Law of Diminishing Marginal Utility? How.
Chapter 4 Principles and Preferences McGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill Companies, Inc. All Rights Reserved.
CHAPTER 2 DEMAND AND SUPPLY ANALYSIS: CONSUMER DEMAND Presenter’s name Presenter’s title dd Month yyyy.
© 2003 By Default! Slide 1 Poverty Lines Celia M. Reyes Introduction to Poverty Analysis NAI, Beijing, China Nov. 1-8, 2005.
MORE ON PRODUCTION POSSIBILITIES & SUPPLY/DEMAND INTERNATIONAL TRADE.
© 2005 Worth Publishers Slide 17-1 CHAPTER 17 International Trade PowerPoint® Slides by Can Erbil and Gustavo Indart © 2005 Worth Publishers, all rights.
Chapter 4 Consumer and Firm Behavior: The Work- Leisure Decision and Profit Maximization Copyright © 2014 Pearson Education, Inc.
CHAPTER 3
1 Consumer Choice, Utility, and Revealed Preference.
Total Output, x “Stylized” view of production functions – long run and short run Long-run Production with 2 variable inputs (v 1, v 2 ): v1v1 v2v2 v11v11.
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