PDF-A Universe of Pitiless Indifference?

Jonathan Gallagher Gazing up at the stars what do you see What of the size of the universe E ven just a passing knowledge of astronomy reveals the hugeness of the numbers that are truly x. D. N. G. Carter The White Goddess: An Encounter by Simon Gough Norwich: Galley Beggar Press, 2012. 631 pp. Indifference curves . Chapter 3. Budget line. 2. Points on the budget line indicate all the bundles of goods that the consumer can afford.. Good 2. 150. 50. 100. Good 1. 150. 100. 0. 50. Indifference Curve. Curve . Analysis. ASSUMPTION OF INDIFFERENCE CURVE. ANALYSIS.. 1. A consumer is assumed to buy any two goods in combinations.. 2. A consumer can rank the alternative combinations and compare their level of satisfaction, and he prefers a combination providing a higher level of satisfaction.. Topic 3. Outline. Concepts—definition/illustration. Indifference map. Slope of indifference Curve/MRTS. DMRTS/reasons. Assumptions of Indifference curve. Properties of Indifference Curve. Budget . line. Utility and Choice. . Objective. Build a model to understand how a consumer makes decisions under scarcity.. To understand his choice we need to know:. Preferences. Constraints. Consumer makes a choice that results in the maximum satisfaction or UTILITY.. Are . we. . alone in the Universe?. The Carina Nebula. (8000 light years. from Earth). “When . I consider your heavens, the work of your fingers, the moon and the stars, which you have set in . place” (Psalm 8:3). 14. February 26. th. , 2014. Lecture . 16. Ch. . 9. . Ordinal Utility:. Indifference Curve Analysis. Indifference . Curves. An . indifference curve. . represents all the combinations of the two goods amongst which. Warm-up Question. What do dating and marriage have to do with economics? . Scarcity. Choice. Utility maximization . Economics and Marriage. A market is any mechanism or institution that brings buyers together with sellers. What is “Indifference”? . indifferent: . 1 having or showing no partiality, bias, or preference; neutral 2 having or showing no interest, concern or feeling; uninterested, apathetic, or unmoved. .. The universe is the sum of all energy, matter, space and time.. But there. ’. s a difference between the universe we see (the observable universe) . and the universe as it really exists.. This gets complicated….. So what!. Awesome!. This is a picture of my cat. Indifference. Interest. Expressing interest. Expressing indifference. How interesting!. Wow! That sounds exciting!. Awesome!. How great!. That is amazing!. Indifference:. Having a neutral or unbiased disposition.. Not interested in or concerned about something.. Apathetic; not easily interested or moved.. Characterized by lack of active quality.. ~ Webster. If the universe was 1 year old . . .. Science/religion – either/or?. How do we predict the conditions of the early universe?. What are the different eras in the early universe?. What key lines of evidence support the Big Bang model?. Objectives: . Upon completion of this unit students should be able to;. Define the concept of utility as basis of demand.. Define Marginal utility and diminishing marginal utility.. Draw indifference curve and individual demand curve..