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范里安中级微观经济学知识点总结


X1=
a
a
b

m P1
Engel curve
x1
X*
X1
X1
Budget lines
X2
Price offer curve
P1
x1

m P1
( x1

x)
x1 x* (x1 x* )
m
Demand curve
X*
X1
Slutsky equation
The total effect = the substitution effect + the income effect A giffen good must be an inferior good
Slope: 1
p1
max x1

Fm.Oa.Cx ‡ˆxˆˆ1F.ˆOˆ.Cˆˆ.p†ˆ
xXf1 1W1
00
PMP1
W1

MP1

W1 P

MR

MC
If the firm is at its profit maximization condition, it must also be its cost
yy bA ](
1
) 2ab
y
)
1 2ab
A
Y Optimal choice 等产量曲线
1/(a+b)
O
Y Optimal choice 等产量曲线
O
AC AVC MC
Y XO
MC
X
x1

y a
,
x2

y b
cos
t

(
w1 w2 aPerfebct
)y
stitution
(corner
X2
m’/p2
Increasing income
Budget line
Increasing price
Goods
m/p2
Budget line
Slope = - p’1/p2
m/p’1
Slope = - p1/p2 m/p1
Indifference curves: cannot cross each other.
Income offer curve
Budget lines
Perfect complement
Good2
Good1
Price offer curve
Giffen Good
I Engel Curve
1
Slope=
P1 P2
Good1 P1
Demand Curve
Budget lines
Perfect complement
TM MM>0
4: AM MM>AM AM MM<AM 5: MM cuts AM at AM’S max or min
TM
MM(x*) AM(x*)
x Budget constraint and indifference curves: P1M X1 P2 X2 m *
Y
Y
Isoquants
Y Isoquants
Fix proportion complement
X vs. Perfect
X
X
Isoquants
Cobb-Douglas
Perfect substitution
Q Ax y

Q Marginal product: MPI =
X i

Technical
X1
1
Normal goods: x1 >0 m

Inferior goods: x1 <0 m
X2
Normal Good
m
X2
Luxury goods:
2 x1 >0 m 2 1
Necessary goods: 2 x1 <0 m 2
By income
Ordinary goods:

slope of ray slope of curve
p dq
Linear demand curve:
Elastic demand >1 Inelastic demand <1 Unitary demand =1
PRICE
a a/2
slopeMR 2 slopedd (AR)
c= w1x1

w2
x22

x2

c w2

w1 w2
x11
Tangency condition yields the optimal cost minimization point: - mp1 TRS W1
mp2
W2
x2
Optimal choice
Isocost lines slope= – w 1 / w 2 x2*
O
Giffen goods:
X2
x1 0
m px
By pXr1 ice
x 0 1
Inferior Good
px
Y
Substitution goods: x >0
Py
Complement goods: x <0
Py
Good1
Ordinary Good
Perfect complement:
Slope=-b Slope=-2b
dR dp

q
1


(q)

MR dR p[1 1 ] p[1 1 ]
dq
(q)
(q)
Demand, AR
AARR

A
R
qB

Pp((qq))
a/2b
a/b
QUANTITY
MR
Equilibrium
Imposing tax Passing along the tax burden:
Following are some indifference cur ves.
Bads
Bads
Neutrals
Goods Good1
Bads Good1
Goods
ya b
Goods
Perfect substitutes
Good2
Perfect complement
Utility function: mv1 dx2 MRS( forgoodone) P1
Y
Y
Y
imposing tax on x
A
results in the budget
PX ①worse-off
W
line’s pivot around w
②as well-off
X B
W
③better-off by sell
X
X buy Y
X2
Utility
Minimum utility
ω
Utility
minimization condition
MPX APX
Cross the same vertical intersection
APX
MPX
O
X
Q
Isoprofit lines
Optimal choice l
Q f (X)
C
Production
Q
function
O
X
X

Isocost
lines:
Good2
Perfect substitutes:
X2
Budget lines Income offer curve X1
Good1
I Engel Curve
1
Slope=
P1
X1
X2
P1
Budget lines
Price offer curve X1
Cobb-Douglas:
X2
Income offer curve
Y
Y
O
Slutsky
deFcoDmposiEtion
of
Giffen
good
X
O A CB
Slutsky decomposition of inferior good
X
Endowment
p1
Budget line goes through endowment has a slope= p2
px Better-off by buy X sell
note
of
substitution:
TRS
x1
x2

dx2 dx1

MP1 MP2
(slope
of
isoquants)
Law of diminishing marginal product: Q 0. 2QQ 0
X i
2XXiI2
Returns to scales
Profit maximization and cost minimization
a b
x2
x1
( y( a
y 1)a )Aab
1
(bwc1 a
( )
wa1 aab
)(wa b2b)(waba2b )ca bb b
a wb2
w1 wby2ww12
cbaocxaso2tswwt12w([wa1y[1)ww(a11ww1(b12ww(w.w12a2ba1.))baaab)ababb(bwbw22)w(2waw(a21bwwbac21)baaa)bwaa]2(b
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