ECON 203 • Microeconomic Theory I • Midterm

Budget Constraint (Bütçe Kısıtı )

Example 1:Budget Constrait

Example 2 : Budget Constraint

Introduction to Utility Concept

Preferences and Indifference Curves

Choice: MRS and Utility Maximization 1

Choice (MRS and Utility Maximization) 2

Indifference Curves for Perfect Substitutes, Perfect Complements, Neutrals and Bads

Utility Maximization Problem

Concave Preferences and Corner Solutions and Example

Lagrange Method and Example

Income Effect & Substitution Effect

Price Offer Curve & Individual Demand Curve

Price Offer Curve & Individual Demand Curve Example

Income Offer Curve & Engel Curve

Income Offer Curve & Engel Curve: Exam Type Question

Income and Substitution Effects (Review)

Slutsky Equation and Hicks Equation 1

Point Elasticity of Demand

Income and Cross Price Elasticity (Point)

Consumer Surplus & Producer Surplus

Example1 :(consumer surplus)

Example 2: (Consumer Surplus)

Example 3:(Consumer Surplus)

Revealed Preferences and WARP & SARP

Violation of WARP

Production Process (Marginal Product, Average Product, Total Product)

Returns to Scale

Exam like Question 1

Exam-like Question 2

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