上財中級微觀經(jīng)濟學課件ch02budget-wenkub
2022-11-01 00:21:53 本頁面
【正文】 Intermediate Microeconomics 17 Budget Constraints ?For n = 2 and x1 on the horizontal axis, the constraint’s slope is p1/p2. What does it mean? ?Increasing x1 by 1 must reduce x2 by p1/p2. x ppx mp21212= ? ?2021/11/11 Intermediate Microeconomics 18 Budget Constraints x2 x1 Slope is p1/p2 +1 p1/p2 2021/11/11 Intermediate Microeconomics 19 Budget Constraints x2 x1 +1 p1/p2 Opp. cost of an extra unit of modity 1 is p1/p2 units foregone of modity 2. 2021/11/11 Intermediate Microeconomics 20 Budget Constraints x2 x1 Opp. cost of an extra unit of modity 1 is p1/p2 units foregone of modity 2. And the opp. cost of an extra unit of modity 2 is p2/p1 units foregone of modity 1. p2/p1 +1 2021/11/11 Intermediate Microeconomics 21 How do the budget set and budget constraint change as ine m increases? Original budget set x2 x1 2021/11/11 Intermediate Microeconomics 22 Higher ine gives more choice Original budget set New affordable consumption choices x2 x1 Original and new budget constraints are parallel (same slope). 2021/11/11 Intermediate Microeconomics 23 How do the budget set and budget constraint change as ine m decreases? Original budget set x2 x1 2021/11/11 Intermediate Microeconomics 24 How do the budget set and budget constraint change as ine m decreases? x2 x1 New, smaller budget set Consumption bundles that are no longer affordable. Old and new constraints are parallel. 2021/11/11 Intermediate Microeconomics 25 Budget Constraints Ine Changes ?Increases in ine m shift the constraint outward in a parallel manner, thereby enlarging the budget set and improving choice. 2021/11/11 Intermediate Microeconomics 26 How do the budget set and budget constraint change as p1 decreases from p1’ to p1”? Original budget set x2 x1 m/p2 m/p1’ m/p1” p1’/p2 2021/11/11 Intermediate Microeconomics 27 How do the budget set and budget constraint change as p1 decreases from p1’ to p1”? Original budget set x2 x1 m/p2 m/p1’ m/p1” New affordable choices p1’/p2 2021/11/11 Intermediate Microeconomics 28 How do the budget set and budget constraint change as p1 decreases from p1’ to p1”? Original budget set x2 x1 m/p2 m/p1’ m/p1” New affordable choices Budget constraint pivots。 slope flattens from p1’/p2 to p1”/p2 p1’/p2 p1”/p2 2021/11/11 Intermediate Microeconomics 29 Budget Constraints Price Changes ?Reducing the price of one modity pivots the constraint outward. No old choice is lost and new choices are added, so reducing one price cannot make the consumer worse off.
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