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1、范里安中级微观经济学知识点总结I. Summaryu Marginal analysis:1:Marginal magnitudes=tangent=slope of TMTMMM0 2:Average magnitudes=tangent=slope of ray 3: Total magnitude TMMM(x*)AM(x*)x* 4: AMMMAM AMMM0By incomeuNormal goods:0 Necessary goods: 0Inferior goods:0 mX2Normal GoodX1Inferior Good O Complement goods: 0 By
2、priceGiffen goods:Ordinary goods: YXOX2X1 O Giffen GoodOrdinary Good Perfect complement:Good1Engel CurveISlope=Income offer curveGood2Good1Perfect complement Budget linesP1Demand CurvePrice offer curveGood2Good1Perfect complementGood1Budget linesBudget linesX1X2Income offer curve Perfect substitutes
3、:X1IEngel CurveSlope=Demand CurveP1Budget linesX1X2Price offer curveX1IEngel CurveSlope= Cobb-Douglas:X2X1Income offer curve Budget lines X1X2X1Budget linesP1x1Demand curveX1=Price offer curveX2Budget linesIncome offer curveX1X*IX1Engel curve Quansilinear: Price offer curveX2X1OBudget linesDemand cu
4、rvemP1X1X* u Slutsky equationThe total effect = the substitution effect + the income effect A giffen good must be an inferior goodYXFODESlutsky decomposition of Giffen goodYXA OCBSlutsky decomposition of inferior good u EndowmentYXWBetter-off by buy X sell Y worse-offas well-offbetter-off by sell X
5、buy YBudget line goes through endowment has a slope=WAYXBimposing tax on x results in the budget lines pivot around wX1X21Minimum utilityUtilityUtilityPrice offer curve with endowmentu Market demandPQ1Q1*PQ1Q2*PQ1Q1*Q1*+Q2* Horizontal summing up principleElastic demand 1Inelastic demand 1 Unitary de
6、mand =1 Price elasticity of demand: Linear demand curve: QUANTITYPRICEaa/2Slope=-2bSlope=-ba/2ba/bMRDemand, ARu Equilibrium Imposing tax Passing along the tax burden:The steeper the curve is, the more tax that side suffers tax pay bay producertax pay by consumer QUANTITYThe deadweight loss of the ta
7、x: B+D Supply Demand PRICEAPp Pr Q*Amount of tax revenue:A+CBDP* EQ0CSupply(on producer)Demand(on consumer) Dead-weight lossYXIsoquantsCobb-DouglasYX Isoquants Perfect substitutionXYFix proportion vs. Perfect complementIsoquantsu Technology Marginal product: MPI = Technical note of substitution: TRS
8、 (slope of isoquants) Law of diminishing marginal product: Returns to scalesu Profit maximization and cost minimization Vertical intersection: Slope: Profit: X be constant isoprofit lines: If the firm is at its profit maximization condition, it must also be its cost minimization conditionOptimal cho
9、ice Isoprofit linesProduction functionX APX MPX MPX APX O Cross the same vertical intersection Isocost lines: c=Tangency condition yields the optimal cost minimization point: -Isocost lines slope= w 1 / w 2 x2* x2Optimal choiceY X等产量曲线 O Optimal choice Perfect complement: Cobb-DouglasY X等产量曲线 O Optimal choice 1/(a+b)Optimal choiceOptimal choiceY X等产量曲线 O Y X等产量曲线 O Perfect substitution (corner sol
