한양대학교 미시경제학1 중간고사 정리

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본문내용

[Budget Constraints]
• Consumption Choice Sets
a consumption choice set is the collection of all consumption choices(or consumption bundle)available to the consumer.

• Budgetary Constraints
Bundle A (q1, q2, q3 ... qn) is affordable at prices (p1, p2, p3 ...pn) if p1q1 + p2q2 + p3q3 + ...+ pnqn ≤ m
( m = disposable income)
즉, consumption choice set의 수많은 consumption choices 중에서 소비자가 원하는 bundle를 항상 구할 수 없는 이유는 그 bundle을 구매하는 데에 필요한 돈이 부족한 경우가 있기 때문이다.

• Budget Line ( = Budget Constraints)
B = budget line = {(x1,x2,x3 ... xn) / x1≥0, x2≥0, x3≥0 ... xn≥0, and p1x1 + p2x2 + p3x3 ... pnxn = m} We say B is a 'just affordable' bundle.
Budget set of which those commodity bundle is just affordable at income m is called budget line(or budget constraints).

• Budget Set
B = budget set = {(x1,x2,x3 ... xn) / x1≥0, x2≥0, x3≥0 ... xn≥0, and p1x1 + p2x2 + p3x3 ... pnxn ≤ m} We say B is an 'affordable' bundle.
Budget set of which those commodity bundle is affordable at income m is called budget set.

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