倫敦經(jīng)濟(jì)學(xué)院高微講義-消費者理論(已修改)
2024-10-30 11:17 本頁面
【正文】 The consumer aims to maximise utility... subject to the budget constraint x2 x1 Constraint set This is known as the primal problem... subject to U(x) max S pi xi ??M n i=1 Solution to the primal problem ? x* But there39。s another way at looking at all this Contours of objective function Alternatively... x2 x1 the consumer aims to minimise cost... ... subject to a utility constraint Constraint set u This alternative approach is known as the dual problem The solution to the dual problem subject to S p x n i=1 i i U(x) ? u min But... ? x* But where have we seen the dual problem before…?? z 1 z 2 z* Q _ cost minimisation by the firm Contours of objective function p1 x1 +p2 x2 = constant Comparing costminimisation for the firm Let39。s run through the formalities of the solution... z 1 z 2 z* Q _ u x2 x1 ? x* and for the consumer... ... the difference is only in notation so their solution functions and response functions must be the same Use the FOC At x* we find... xi* = Hi(p,u) C(p,u) Problem... ...solution response: min x ? pi xi subject to U(x) ??u i n = 1 Costminimisation: the consumer Costmin problems are identical zi* = i(w Q) (w Q) z wi zi t t G z Q m l?U1(x*) = p1 l?U2(x*) = p2
教學(xué)課件相關(guān)推薦
鄂ICP備17016276號-1