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CONSUMER BEHAVIOR ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Important Terms
Law of Diminishing Marginal Utility ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Relationship between Total Utility and Marginal Utility Table 1 TOTAL UTILITY MARGINAL UTILITY IMPLICATIONS increasing positive satisfied constant zero satiated decreasing negative dissatisfied
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CONSUMER RIGHTS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],P15.00
ANALYSIS OF DEMAND ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Important Terms
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
OTHER FACTORS AFFECTING THE DEMAND ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
PRICE ELASTICITY OF DEMAND ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Demand Elasticity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Relationship between Product Price and Total Revenue at various elasticity Table 2 Value of Demand Elasticity Definition Price Total Revenue <1 (inelastic) Percent change in quantity demanded is less than percent change in price If price increases Total Revenue increases If price decreases Total Revenue decreases = 1 (unit-elastic) Percent change in quantity demanded is equal to percent change in price If price increases Total Revenue is constant If price decreases Total Revenue is constant ,[object Object],Percent change in quantity demanded is greater than percent change in price If price increases Total Revenue decreases If price decreases Total Revenue increases
PRICE ELASTICITY OF DEMAND AND TOTAL REVENUE ,[object Object],[object Object],[object Object],[object Object],[object Object]
ANALYSIS OF SUPPLY ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
LAW OF SUPPLY ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Other Factors Affecting Supply ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Factors that Cause Supply to Increase ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
MARKET EQUILIBRIUM ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Table 3 Table 3 shows the demand and supply schedules for cookies. At P2.00, the demand for cookies at 14 units is equivalent to the supply of cookies. Price Quantity Demanded Qd e Quantity Supplied Qs e 0 18 2 1 16 8 2 14 14 3 12 20 4 10 26 5 8 32
 
Price setting by the Government ,[object Object],[object Object],[object Object],[object Object]
PRODUCTION AND COST THEORIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Important Terms
[object Object],[object Object],[object Object],[object Object],[object Object]
SHORT RUN PRODUCTION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
Production Schedule of Children’s Dresses Table 4 Dressmakers Dresses (TP) Marginal Product (MP) Average Product (AP) 0 0 1 5 5 5 2 9 4 4.5 3 12 3 4 4 14 2 3.5 5 15 1 3 6 15 0 2.5
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[object Object],[object Object],[object Object],[object Object]
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[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
SHORT-RUN COSTS ,[object Object],[object Object],[object Object],[object Object],[object Object]
Average Cost : Fixed and Variable ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
MARKET STRUCTURE AND PRICE-OUTPUT DETERMINATION ,[object Object],[object Object],[object Object],[object Object],[object Object]
PERFECT COMPETITON ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
Profit Maximization of Perfectly Competitive Firm ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
MONOPOLY ,[object Object],[object Object],[object Object],[object Object],[object Object]
MONOPOLISTIC COMPETITION ,[object Object],[object Object]
OLIGOPOLY ,[object Object],[object Object]
DETERMINANTS OF MARKET STRUCTURE ,[object Object],[object Object],[object Object],[object Object]
E N D H O M E Thank You!

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Basic Economics With Taxation And Agrarian Reform boa

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  • 6. Relationship between Total Utility and Marginal Utility Table 1 TOTAL UTILITY MARGINAL UTILITY IMPLICATIONS increasing positive satisfied constant zero satiated decreasing negative dissatisfied
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  • 28. Table 3 Table 3 shows the demand and supply schedules for cookies. At P2.00, the demand for cookies at 14 units is equivalent to the supply of cookies. Price Quantity Demanded Qd e Quantity Supplied Qs e 0 18 2 1 16 8 2 14 14 3 12 20 4 10 26 5 8 32
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  • 36. Production Schedule of Children’s Dresses Table 4 Dressmakers Dresses (TP) Marginal Product (MP) Average Product (AP) 0 0 1 5 5 5 2 9 4 4.5 3 12 3 4 4 14 2 3.5 5 15 1 3 6 15 0 2.5
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  • 55. E N D H O M E Thank You!