Chapter 3 Consumer Behavior
Chapter 3 Consumer Behavior
Topics to be Discussed a Consumer Preferences a Budget Constraints ■ Consumer Choice Revealed Preferences Chapter 3: Consumer Behavior Slide 2
Chapter 3: Consumer Behavior Slide 2 Topics to be Discussed ◼ Consumer Preferences ◼ Budget Constraints ◼ Consumer Choice ◼ Revealed Preferences
Topics to be Discussed a Marginal Utility and Consumer Choices ■ Cost-of-Living Indexes Chapter 3: Consumer Behavior Slide 3
Chapter 3: Consumer Behavior Slide 3 Topics to be Discussed ◼ Marginal Utility and Consumer Choices ◼ Cost-of-Living Indexes
Consumer Behavior a TWo applications that illustrate the importance of the economic theory of consumer behavior are o Apple-Cinnamon Cheerios o The Food stamp Program Chapter 3: Consumer Behavior Slide 4
Chapter 3: Consumer Behavior Slide 4 Consumer Behavior ◼ Two applications that illustrate the importance of the economic theory of consumer behavior are: ⚫ Apple-Cinnamon Cheerios ⚫ The Food Stamp Program
Consumer Behavior a General mills had to determine how igh a price to charge for Apple Cinnamon Cheerios before it went to the market Chapter 3: Consumer Behavior Slide 5
Chapter 3: Consumer Behavior Slide 5 Consumer Behavior ◼ General Mills had to determine how high a price to charge for AppleCinnamon Cheerios before it went to the market