lecture4.ppt

《lecture4.ppt》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、IntermediateMicroeconomics,Economics4011Lecture4:DemandandSlutskyEquation6DemandPropertiesofDemandFunctionsComparativestaticsanalysisofordinarydemandfunctions--thestudyofhowordinarydemandsx1*(p1,p2,y)andx2*(p1,p2,y)changeaspricesp1,p2andincomeychange.Own-PriceChangesHo

2、wdoesx1*(p1,p2,y)changeasp1changes,holdingp2andyconstant?Supposeonlyp1increases,fromp1’top1’’andthentop1’’’.x1x2p1=p1’Fixedp2andy.p1x1+p2x2=yOwn-PriceChangesOwn-PriceChangesx1x2p1=p1’’p1=p1’Fixedp2andy.p1x1+p2x2=yOwn-PriceChangesx1x2p1=p1’’p1=p1’’’Fixedp2andy.p1=p1’p1x

3、1+p2x2=yOwn-PriceChangesFixedp2andy.x1*(p1’)Own-PriceChangesp1=p1’Fixedp2andy.x1*(p1’)p1x1*(p1’)p1’x1*Own-PriceChangesFixedp2andy.p1=p1’x1*(p1’)p1x1*(p1’)p1’p1=p1’’x1*Own-PriceChangesFixedp2andy.x1*(p1’)x1*(p1’’)p1x1*(p1’)p1’p1=p1’’x1*Own-PriceChangesFixedp2andy.x1*(p1

4、’)x1*(p1’’)p1x1*(p1’)x1*(p1’’)p1’p1’’x1*Own-PriceChangesFixedp2andy.x1*(p1’)x1*(p1’’)p1x1*(p1’)x1*(p1’’)p1’p1’’p1=p1’’’x1*Own-PriceChangesFixedp2andy.x1*(p1’’’)x1*(p1’)x1*(p1’’)p1x1*(p1’)x1*(p1’’)p1’p1’’p1=p1’’’x1*Own-PriceChangesFixedp2andy.x1*(p1’’’)x1*(p1’)x1*(p1’’)

5、p1x1*(p1’)x1*(p1’’’)x1*(p1’’)p1’p1’’p1’’’x1*Own-PriceChangesFixedp2andy.x1*(p1’’’)x1*(p1’)x1*(p1’’)p1x1*(p1’)x1*(p1’’’)x1*(p1’’)p1’p1’’p1’’’x1*Own-PriceChangesOrdinarydemandcurveforcommodity1Fixedp2andy.x1*(p1’’’)x1*(p1’)x1*(p1’’)p1x1*(p1’)x1*(p1’’’)x1*(p1’’)p1’p1’’p

6、1’’’x1*Own-PriceChangesOrdinarydemandcurveforcommodity1Fixedp2andy.x1*(p1’’’)x1*(p1’)x1*(p1’’)p1x1*(p1’)x1*(p1’’’)x1*(p1’’)p1’p1’’p1’’’x1*Own-PriceChangesOrdinarydemandcurveforcommodity1p1priceoffercurveFixedp2andy.Own-PriceChangesThecurvecontainingalltheutility-

7、maximizingbundlestracedoutasp1changes,withp2andyconstant,isthep1-priceoffercurve.Theplotofthex1-coordinateofthep1-priceoffercurveagainstp1istheordinarydemandcurveforcommodity1.Own-PriceChangesWhatdoesap1price-offercurvelooklikeforCobb-Douglaspreferences?Own-PriceChange

8、sWhatdoesap1price-offercurvelooklikeforCobb-Douglaspreferences?TakeThentheordinarydemandfunctionsforcommodities1an