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# 经济代写|微观经济学代考Microeconomics代写|ECON2516 Utility Maximization: Optimal Consumer Choice

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## 经济代写|微观经济学代考Microeconomics代写|Utility Maximization: Optimal Consumer Choice

So far, we have described two of the three parts we need to explain how consumers choose goods. First, we described their limitations (scarceness; income; the budget line), and then we described their preferences (desires, taste). Now, we put these two parts together. Moreover, if we add the assumption that the consumer will maximize her utility, we will be able to predict which basket of goods she will choose: She will choose a point on an indifference curve that she can afford and that gives her maximum utility. This usually, but not always, singles out one point.

In Figure 3.6, we see the indifference curves from Figure $3.4$ and the budget line from Figure $3.1$ combined. Which of the points A-D is an optimal, utility maximizing, choice?

• Is, for instance, point B optimal? No, A is better than B since A is on a higher indifference curve. The consumer can also afford $\mathrm{A}$, since $\mathrm{A}$ is on the budget line.
• Is C optimal? No, C is on the same indifference curve as B, and is therefore as good as B. However, A is better than B and, consequently, A must be better than $\mathrm{C}$.
• Is D optimal? D is on a higher indifference curve than any of the other baskets, A-C. It therefore produces the highest level of utility. However, the consumer cannot afford D since it lies outside the budget line. Therefore, $\mathrm{D}$ is not an optimal choice.
• Is A optimal? Yes, A is the only basket that, given the consumers indifference curves and budget line, produces a maximum level of utility. All other points that lie on or below the budget line produce lower levels of utility. At point A, an indifference curve just touches the budget line (i.e. the budget line is a tangent to the indifference curve).

## 经济代写|微观经济学代考Microeconomics代写|More than Two Goods

The method we have described uses only two goods. So, what do we do if we have more goods? One method we can use, if we want to use graphs in the same spirit as before, is to define a sort of composite good as “everything else,” alternatively as “money” (since money represents possibilities to consume something else). Then we can draw a graph where good 1 is the good we want to analyze and good 2 is “everything else.”

Another strategy that is used in more advanced textbooks is the so-called utility function. This mathematical function assigns a numerical value to the utility level of a certain consumption choice. For two goods, the utility of consuming a certain combination of them could be:
$$U\left(q_1, q_2\right)=q_1 * q_2$$

The utility, U, of consuming, for instance, 2 units of good 1 and 3 units of good 2 will then be $2 * 3=6$. The number 6 does not mean much more than that it is better than, for instance, 4 but worse than, for instance, 14. The analysis is then carried out such that one maximizes the value of $U$, given that the cost of buying must not exceed the budget. If you continue to study microeconomics, the analyses will become increasingly more concentrated on utility functions and less on graphical descriptions. In Chapter 6, we will briefly use a utility function in the analysis of attitudes towards risk.

# 微观经济学代写

## 经济代写|微观经济学代考Microeconomics代写|Utility Maximization: Optimal Consumer Choice

$C$ 是最优的吗? 不， $C$ 和 $B$ 在同一条无差异曲线上，因此和 $B$ 一样好。但是， $A$ 比 $B$ 好，因此， $A$ 一定比 $B$ 好 $C$. 因为它超出了预算线。所以， D不是最佳兟择。

$A$ 是最优的吗? 是的，在给定肖㤟者无差异曲线颌算线的情况下， $A$ 是唯一产生最大效用水平的篮子。位于预算线之上或 之下的所有其他点产生较低水平的效用。在 A 点，一条无差异曲线恰好与预算线相交 (即预算线与无差异曲线䀠切)。

## 经济代写|微观经济学代考Microeconomics代写|More than Two Goods

$$U\left(q_1, q_2\right)=q_1 * q_2$$

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。