W hen you walk into a store, you are confronted with thousands of goods that

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Principles of Economics, 7th ed - Mankiw, N. Gregory文档提取20231108134744

Number of Pizzas Liters of Pepsi Spending on Pizza Spending on Pepsi Total
The Consumer’s Budget Constraint 100 Quantity of Pizza Quantity of Pepsi
438 PART VII

FIGURE
1
the budget constraint shows the various bundles of goods that the consumer can buy for a
given income. Here the consumer buys bundles of pizza and Pepsi. the table and graph show
what the consumer can afford if her income is $1,000, the price of pizza is $10, and the
price of Pepsi is $2.
Number
of Pizzas
Liters
of Pepsi
Spending
on Pizza
Spending
on Pepsi
Total
Spending
100
0
$1,000
$ 0
$1,000
90
50
900
100
1,000
80
100
800
200
1,000
70
150
700
300
1,000
60
200
600
400
1,000
50
250
500
500
1,000
40
300
400
600
1,000
30
350
300
700
1,000
20
400
200
800
1,000
10
450
100
900
1,000
0
500
0
1,000
1,000
The Consumer’s Budget
Constraint
100
Quantity
of Pizza
Quantity
of Pepsi
0
250
50
500
B
C
A
Consumer’s
budget constraint
Quick Quiz
Draw the budget constraint for a person with income of $1,000 if the price
of Pepsi is $5 and the price of pizza is $10. What is the slope of this budget constraint?
21-2
preferences: What the Consumer Wants
Our goal in this chapter is to see how consumers make choices. The budget
constraint is one piece of the analysis: It shows the combinations of goods the
consumer can afford given her income and the prices of the goods. The consumer’s
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438 PART VII
tOpICS FOr FUrther StUDY
choices, however, depend not only on her budget constraint but also on her pref-
erences regarding the two goods. Therefore, the consumer’s preferences are the
next piece of our analysis.

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