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Ec4004 Lecture 2 Individual Demand

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Stephen Kinsella
Stephen Kinsella
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EC4004 Lecture 3 Individual Demand
Last Time Utility Functions Indifference Curves Budget Constraints
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Today Demand Functions Income Substitution Effects Consumer Surplus
1.
Demand Functions
Demand Functions
3 elements determine quantity demanded
1 Prices of X and Y
2 Income (I)
3 Person’s preferences for X and Y
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand
Ec4004 Lecture 2 Individual Demand

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Ec4004 Lecture 2 Individual Demand