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Baye Cover
Managerial Economics and Business Strategy, 4/e
Michael Baye, Indiana University - Bloomington
The Theory of Individual Behavior

Chapter Outline

Headline: Packaging Firm Uses Overtime Pay to Overcome Labor Shortage

  1. Introduction
  2. Consumer Behavior
  3. Constraints
    1. The Budget Constraint
    2. Changes in Income
    3. Changes in Prices
  4. Consumer Equilibrium
  5. Comparative Statics
    1. Price Changes and Consumer Behavior
    2. Income Changes and Consumer Behavior
    3. Substitution and Income Effects
  6. Applications of Indifference Curve Analysis
    1. Choices by Consumers
      1. Buy One, Get One Free
      2. Cash Gifts, In-Kind Gifts, and Gift Certificates
    2. Choices by Workers and Managers
      1. A Simplified Model of Income-Leisure Choice
      2. The Decisions of Managers
  7. The Relationship between Indifference Curve Analysis and Demand Curves
    1. Individual Demand
    2. Market Demand
  8. Answering the Headline
  9. Summary
  10. Key Terms and Concepts
  11. Conceptual and Computational Questions
  12. Problems and Applications
  13. Selected Readings
  14. Appendix: A Calculus Approach to Individual Behavior




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