6. Fayda Kavramı/TU and MU

8. Farksızlık Eğrileri ( Indifference Curves: A n Example ) 40 10 H 20 10 G 40 30 E 20 40 D 50 10 B 30 20 A Units of Clothing Units of Food Market Basket

9. Farksızlık Eğrileri ( Indifference Curves: A n Example ) The consumer prefers A to all combinations in the yellow box, while all those in the pink box are preferred to A. Food 10 20 30 40 10 20 30 40 Clothing 50 G A E H B D

12. Farksızlık Eğrileri ( Indifference Curves ) Market basket A is preferred to B. Market basket B is preferred to D. U 2 U 3 Food Clothing U 1 A B D

14. Marjinal İkame Oranı ( Marginal Rate of Substitution ) Observation: The amount of clothing given up for 1 unit of food decreases from 6 to 1 A B D E G -1 -6 1 1 -4 -2 1 1 Food Clothing 2 3 4 5 1 2 4 6 8 10 12 14 16

15. Marjinal İkame Oranı ( Marginal Rate of Substitution ) MRS = 6 MRS = 2 Food 2 3 4 5 1 Clothing 2 4 6 8 10 12 14 16 A B D E G -6 1 1 1 1 -4 -2 -1

22. Tüketici Tercihi/Kayıtsızlık Eğrisi Mükemmel İkame ( Perfect Substitutes ) Orange Juice (glasses) Apple Juice (glasses) 2 3 4 1 1 2 3 4 0

23. Tüketici Tercihi/Kayıtsızlık Eğrisi Mükemmel Tamamlayıcı ( Perfect Complements ) Right Shoes Left Shoes 2 3 4 1 1 2 3 4 0

24. Tüketici Tercihi ( Consumer Preferences ) These consumers place a greater value on performance than styling Styling Performance

25. Tüketici Tercihi ( Consumer Preferences These consumers place a greater value on styling than performance Styling Performance

27. Utility - Example Consumer is indifferent between A & B and prefers both to C 4 + 2(4) = 12 4 4 C 6 + 2(4) = 14 4 6 B 8 + 2(3) = 14 3 8 A Utility Clothing Food Market Basket

29. Utility - Example Basket U = FC C 25 = 2.5(10) A 25 = 5(5) B 25 = 10(2.5) Food 10 15 5 5 10 15 0 Clothing U 1 = 25 U 2 = 50 U 3 = 100 A B C

32. Bütçe Kısıtı( Budget Constraints ) $80 0 80 G $80 10 60 E $80 20 40 D $80 30 20 B $80 40 0 A Income I = P F F + P C C Clothing P C = $2 Food P F = $1 Market Basket

33. Bütçe Doğrusu ( The Budget Line ) 10 20 A B D E G ( I/P C ) = 40 Food 40 60 80 = ( I/P F ) 20 10 20 30 0 Clothing

34. Bütçe Doğrusu ( The Budget Line )

35. Bütçe Doğrusu Değişimi ( The Budget Line – Changes ) An increase in income shifts the budget line outward A decrease in income shifts the budget line inward Food (units per week) Clothing (units per week) 80 120 160 40 20 40 60 80 0 ( I = $160) L 2 ( I = $80) L 1 L 3 ( I = $40)

37. Fiyat Değişiminin Etkisi ( The Effects of Changes in Prices ) An increase in the price of food to $2.00 changes the slope of the budget line and rotates it inward. A decrease in the price of food to $.50 changes the slope of the budget line and rotates it outward. ( P F = 1) L 1 L 3 ( P F = 2) ( P F = 1/2) L 2 40 Food (units per week) Clothing (units per week) 80 120 160 40

38. Fiyat Değişiminin Etkisi /Talep fonk

49. Tüketici Tercihi ( Consumer Choice ) Point B does not maximize satisfaction because the MRS = -10/10 = 1 is greater than the price ratio = 1/2 Food (units per week) Clothing (units per week) 40 80 20 20 30 40 0 +10 F U 1 -10 C B

51. Consumer Choice: An Application Revisited These consumers want performance worth $7000 and styling worth $3000 Styling Performance $10,000 $10,000 $3,000 $7,000

52. Consumer Choice: An Application Revisited These consumers want styling worth $7000 and performance worth $3000 $3,000 $7,000 Styling $10,000 $10,000 Performance

53. Gelir tüketim eğrisi/Engel Eğrisi

54. Gelir İkame (Hicks Yaklaşımı)

55. Figure 4-6: The Total Effect of a Price Increase

56. Figure 4-7: The Substitution and Income Effects of a Price Change