https://gdpark.blog/tags/budget-line/Recent content in Budget-Line on gdpark.blogHugoenFri, 06 Jan 2017 00:00:00 +0000https://gdpark.blog/posts/microeconomics-12-utility-maximization/Fri, 15 Jul 2016 00:00:00 +0000https://gdpark.blog/posts/microeconomics-12-utility-maximization/Mr. Nodap’s got 10,000 won and a choice between booze and smokes — here’s how utility curves and the budget line team up to nail the one combo that maxes him out.https://gdpark.blog/posts/microeconomics-15-utility-maximization-under-a-membership-scheme/Fri, 15 Jul 2016 00:00:00 +0000https://gdpark.blog/posts/microeconomics-15-utility-maximization-under-a-membership-scheme/A fun walkthrough of how a membership fee shifts your budget line — and why some people are actually better off never joining in the first place.https://gdpark.blog/posts/microeconomics-17-price-consumption-curve-and-demand-curve/Sat, 16 Jul 2016 00:00:00 +0000https://gdpark.blog/posts/microeconomics-17-price-consumption-curve-and-demand-curve/We trace what happens when the price of good x keeps dropping, connect all the utility-maximizing bundles into a price consumption curve, and boom — that’s literally where the demand curve comes from.https://gdpark.blog/posts/microeconomics-47-chapter-5-practice-problems/Fri, 06 Jan 2017 00:00:00 +0000https://gdpark.blog/posts/microeconomics-47-chapter-5-practice-problems/Grinding through Chapter 5 consumer theory problems — price-consumption curves, Giffen goods, and utility optimization — one painful step at a time.