THEORY OF CONSUMER
BEHAVIOR
1
Theory of Consumer Behavior: Assumption
The principal assumption upon which the theory of
consumer behavior and demand is built is: a
consumer attempts to allocate his/her limited
money income among available goods and
servi
Uncertainty
We must believe in luck. For how else can we explain the
success of those we dont like?
Jean Cocteau
Challenge: Flight Insurance
Background:
Travel Guard (TG) offers accidental death
insurance for individual flights. If, just before I
take m
Firms and Production
Outline
The Ownership and Management of Firms
Production
Short Run Production: One Variable and One
Fixed Input
Long Run Production: Two Variable Inputs
Returns to Scale
Productivity and Technical Change
2
The Ownership & Manage
DEMAND RELATIONSHIPS
AMONG GOODS
1
The Two-Good Case
The types of relationships that can
occur when there are only two goods
are limited
But this case can be illustrated with twodimensional graphs
2
Gross Complements
Quantity of y
When the price of y fa
INCOME AND
SUBSTITUTION EFFECTS
1
Demand Functions
The optimal levels of x1,x2,xn can be
expressed as functions of all prices and
income
These can be expressed as n demand
functions of the form:
x1* = d1(p1,p2,pn,I)
x2* = d2(p1,p2,pn,I)
xn* = dn(p1,p2,p
MATRICES &
DETERMINANTS
Monika V Sikand
Light and Life Laboratory
Department of Physics and Engineering physics
Stevens Institute of Technology
Hoboken, New Jersey, 07030.
OUTLINE
Matrix Operations
Multiplying Matrices
Determinants and Cramers Rule
Identi
Tropical Agricultural Research Vol. 26 (1): 12 25 (2014)
Factors Influencing Motivation to Transfer Training: An Empirical
Study of a Government Sector Training Program in Sri Lanka
G.T. Madagamage, B.N.F. Warnakulasooriya1, and H.V.A. Wickramasuriya2
Dep
Lecture on
HOW TO CHOOSE RIGHT STATISTICAL
TEST ?
Dr. KATHIRAVAN GOPALAN, MVSc, PhD,
Dept. of Agricultural Economics and Extension
Faculty of Food and Agriculture
The University of the West Indies, St.Augustine
[email protected]
Monday, Octob
Finding a constrained
maximum
Constraints to optimisation
The Lagrangian method
Finding a free maximum
At this point:
We
know how to calculate the slope of a function
of one or several variables
This is done with the derivatives of the functions
There
SOUTH AFRICAN INSTITUTE OF MANAGEMENT
EXAMINATION
MANAGEMENT RESEARCH
Time: 09h00 12h00
Date: 27 May 2015
Mark Allocation: 100 Marks Number of Pages: 3
1. Answer ALL questions in Section A and FOUR (4) questions from
Section B.
2. Lay your work out clearl
MEASURES OF
CENTRAL TENDENCY
(AVERAGES)
Topic #6
Measures
of Central Tendency
A measure of central tendency is a univariate statistic
that indicates, in one manner or another,
the average or typical observed value of a variable in
a data set, or
put ot
Application to
economics
Consumer choice
Profit maximisation
Application to economics
Last week we saw how to find a
constrained maximum:
i.e.:
finding the maximum of a function within a
space defined by a set of constraints
This is a methodology that is
1
RESEARCH METHODOLOGY
Presentation Marking Key 2-research topic/research problem/ research question/data
collection
STUDENT: _
1)
Statement of the Research topic
/5
2) Statement of the Research Problem
/10
i) Importance of the problem as found in past re
Higher Maths
Revision Notes
goodbye
Functions and Graphs
Get Started
Functions and graphs
You should know the meaning of the terms domain and range of a function;
Recognise the probable
form of a function from
its graph
f : x sin (ax + b),
f: x ax
(a > 1
Page 1 of 2
SOUTH AFRICAN INSTITUTE OF MANAGEMENT
EXAMINATION
MANAGEMENT RESEARCH
Time: 09h00 12h00
Date: 22 October 2014
Mark Allocation: 100 marks
Number of Pages: 2
EXAMINERS INSTRUCTIONS:
1. Answer the questions as indicated.
2. Lay your work out clea
1. How would the following factors affect equilibrium in the market for labor?
a. An increase in the demand for the product that a firm is producing
b. The use of a new technology that halves the time that workers will take to produce a good
c. An increas
Selection of Research Topic
Novel Idea?
Mother of All Successful
Proposals
There is nothing new under the sun!
Stealing from one source is plagiarism, while stealing from
many is research: Jacob Kraicer, U Toronto
Where do we get our ideas from?
Advisor
3.1 Basic Concepts of Probability
Statistics
Mrs. Spitz
Fall 2008
Objectives/Assignment
How to identify the sample space of a probability
experiment and to identify simple events.
How to distinguish between classical probability,
empirical probability a
Spring 2015
Environmental Economics
Section 12 : Environmental Justice
Practice Exercise
1. The U.S. government is implementing various payment programs for ecosystem services to internalize
their positive externalities or values as public goods. Consider
OPTIMUM OUTPUT OF A PERFECTLY COMPETITIVE FIRM
1.
Introduction
The firms function in the market place is to supply goods and services, and the only incentive
for the firm to continue production is making a profit. The firms profit is the difference
betwee
Economic surplus
Gains and losses with
international trade: Economic
Welfare
Consumer surplus
Consumer surplus is the net gain to
consumers being able to buy a product
through a market
Consumer surplus is the difference
between the highest price someone i
POLYNOMIAL FUNCTIONS
A POLYNOMIAL is a monomial
or a sum of monomials.
A POLYNOMIAL IN ONE
VARIABLE is a polynomial that
contains only one variable.
Example: 5x2 + 3x - 7
POLYNOMIAL FUNCTIONS
The DEGREE of a polynomial in one variable is
the greatest expo
Qualitative
predictor variables
Examples of
qualitative predictor variables
Gender (male, female)
Smoking status (smoker, nonsmoker)
Socioeconomic status (poor, middle, rich)
An example
with one qualitative predictor
On average, do smoking mothers
have
Graphical Representation of Data
By Prasad N.N.
Research Scholar, DoS in Library and Information Science.
Under the Guidance of
Dr. Chandrashekara M
Associate Professor
Dept. of Library & Information Science
University of Mysore, Mysore
Introduction
When
ISSN 0258-7122
Bangladesh J. Agril. Res. 35(3) : 423-429, September 2010
SURVEY ON MAJOR DISEASES OF VEGETABLE AND FRUIT CROPS
IN CHITTAGONG REGION
M. T. HOSSAIN1, S. M. M. HOSSAIN2, M. A. BAKR3
A. K. M. MATIAR RAHMAN4 AND S. N. UDDIN5
Abstract
A survey w
ECONOMIC ASSESSMENT OF LOSSES DUE TO FRUIT FLY INFESTATION
IN MANGO AND THE WILLINGNESS TO PAY FOR AN INTEGRATED PEST
MANAGEMENT PACKAGE IN EMBU DISTRICT, KENYA
MSc. THESIS
By
MUCHIRI CAROLINE MUGURE
Submitted To:
The Board of Postgraduate Studies (BPS),
TEST OF SIGNIFICANCE
TEST OF SIGNIFICANCE
Introduction
Test of significance is a statistical procedure followed to test
the significant difference between statistics and the parameter
or between any two statistics. i.e. between sample mean and
population
CORRELATION
CORRELATION
Finding the relationship between two quantitative variables without
being able to infer causal relationships
If two variables are so related that the changes in the values of one are
followed by the changes in the value of the othe
Probability
Introduction
People use the term probability many times
each day. For example, physician says that a
patient has a 50-50 chance of surviving a
certain operation. Another physician may say
that she is 95% certain that a patient has a
particula
Research designs and methods
A Research Design provides a framework for the collection
and analysis of data. Choice of research design reflects
decisions about priorities given to the dimensions of the
research process.
Key concept 3.1
Page 46
A Research