PPT-Indifference Curve Approach

Topic 3 Outline Conceptsdefinitionillustration Indifference map Slope of indifference CurveMRTS DMRTSreasons Assumptions of Indifference curve Properties of Indifference Curve Budget line. 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. www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office: LUMS . C85. Outline for this week’s tutorial. Past exam question ( from last week) – 5 min.. Question 1 – 2 min.. Question 2 – 3 min. . Lecture# 5. Consumer behavior. O. rdinal Approach/ Indifference Curve Analysis. Indifference Curves. Indifference analysis . is an alternative way of explaining consumer choice that does not require an explicit discussion of utility.. Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Maths & Stats Help. The . LUMS . Maths. and Stats Help (MASH) Centre. Consumer. Behavior. Chapter 3. Discussion Topics. The concept of consumer utility (satisfaction). Evaluation of alternative consumption bundles using . indifference. curves. What is the role of your budget constraint in determining what you purchase?. Ms. Parra 2012. stifle. verb. To suppress, curb or . withold. capitulation. Noun. The act of surrendering, giving up resistance. vital. Adjective. Necessary to life. quarrel. noun. an . angry. fight or disagreement.. By Michael Steinberg. September 26, 2016. Article Summary. Meat snack consumption has increased by 18% over the last five years . This increase is due to changing tastes in consumers for more protein in their diet. Challenging the Globalization of Indifference. Michael H. Crosby, OFMCap.. St. Michael’s Church / Independence, Ohio. March 22, 2017. A. DULT . C. ATHOLIC . E. DUCATION. THE NEED FOR A NEW CONSCIOUSNESS. M.N. SIKWILA. (PhD Economics). CONTACT: 0736024908. LESSON: OUTCOMES. After this lesson you should be able to:. Explain economic concepts models used in your industry and the economy . Discuss micro and macroeconomic issues that affect the working of the economy. 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. .. In our study of consumers so far, we have looked at . what they do. , but not . why they do what they do. .. Economics is all about the choices that people make; a better understanding of those choices furthers our understanding of economic behavior.. Consumer Choice. Postulate: . an unproved and indemonstrable statement that should be taken for granted: used as an initial premise or underlying hypothesis in a process of . reasoning. Consumer choice postulate: People choose from available options to maximize their well-being (utility).. 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.