demand.6b

# demand.6b - Econ 100A Demand Part 2(Chapter 6 Thomas G Koch...

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Unformatted text preview: Econ 100A: Demand, Part 2 (Chapter 6) Thomas G. Koch Fall 2008 Thomas G. Koch Demand (6b) 1(40) Clickers • Turn on your clicker • Hit a button Thomas G. Koch Demand (6b) 2(40) A reminder Next time is first exam! Two parts • Multiple Choice (15 points) • Bring a Scantron!!!!! • Short-answer (10 points) Thomas G. Koch Demand (6b) 3(40) Review Session • This Friday! • Where: Theater and Dance Auditorium, Room 1701 • When: 2-3 PM Thomas G. Koch Demand (6b) 4(40) Review Session Map L o s C a r n e r o s M e sa R o a d L a g o o n R o a d Ocean Road Ocean Road N UCSB El Colegio Road University Plaza Henley Gate Pacific Ocean M e sa R o a d UCen Road ISLA VISTA Ocean Road O c e a n R o a d Faculty Club Arts Events Center HSSB 22 P 27 P 21 P 29 P 23 P Theater and Dance Student Resource Hatlen Theater Auditorium Performing Arts Theater Theater and Dance 23 P 22 P Thomas G. Koch Demand (6b) 5(40) How we got here • Developed an algorithm • Given preferences (utility function) • and a budget constraint • Find the demand function for some good. We found x * 1 = x 1 ( p 1 , p 2 , m ) x * 2 = x 2 ( p 1 , p 2 , m ) Thomas G. Koch Demand (6b) 6(40) Last time • We focused on demand response to income • ∂ x * 1 ∂ m • Normal vs. Inferior Today We focus on prices....
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demand.6b - Econ 100A Demand Part 2(Chapter 6 Thomas G Koch...

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