Important Concepts from Chapter 8:
Budget Lines
Changes in the Budget Lines
Indifference Curves
Characteristics of Indifference Curves
Marginal Rate of Substitution
Perfect Substitutes and Complements & Indifference Curves
Consumer Equilibrium and Its Conditions
Price Effect: Income and Substitution Effects
The Budget Line
Changes in Price and Income
A Preference Map
Marginal Rate of Substitution
The Best Affordable Point
The Price Effect and a Demand Curve
Substitution and Income Effect
Chapter 8 Discussion
Indifference Curve Problem
Sample Test Questions
