The Consumer covers The Consumer Problem, Consumer Demand and The expenditure Minimization Problem. All correspond to an Intermediate Microeconomics level similar to most degrees in Economics and Business Management.
- The Consumer Problem
- The options
- Consumer preferences
- The utility function
- Substitution rate between goods
- Different type of preferences
- Optimal choice
- Consumer Demand
- Individual demand functions
- Income variations
- Quasilinear preferences
- Price variations
- Demand curve
- Substitution and Income Effects
- The expenditure Minimization Problem
- The expenditure minimization problem
- Compensated demand and Expenditure Functions
- Slutsky equation
Each section is explained starting from scratch, with questions, examples, exercises and solutions, all in an interactive way; finally reaching the University level.
You can find the more formal math (mainly using derivatives) integrated throughout the text but only under request; they are on the Show Math buttons so that f you desire to skip the Math, is easier to follow the explanations.
The definitions of all the discussed concepts are detailed and, at the end of each section, you can see buttons to reach them together with some Self-evaluation questions.
(*) Upcoming updates will include extensions at no extra charge for those who already have the application downloaded.