Chapter 5: Different Types of Tastes

Animated Graphics

Each graphic opens in a new browser window.

Indifference Curves for Perfect Substitutes     Voice-Over

Indifference Curves for Perfect Complements     Voice-Over

Indifference Curves for Less Extreme Cases of Substitutability and Complementarity     Voice-Over

Homothetic Tastes, Marginal Rate of Substitution & Indifference Curves     Voice-Over

Quasilinear Tastes, Marginal Rate of Substitution & Indifference Curves     Voice-Over

Essential Goods - (a) Less Essential (b) More Essential     Voice-Over

Degrees of Substitutability and Marginal Rates of Substitution     Voice-Over

Degrees of Substitutability and the "Elasticities of Substitution"     Voice-Over

Cobb-Douglas Utility Functions: (a) alpha = 0.3; (b) alpha = 0.5; (c) alpha = 0.7     Voice-Over

Different Constant Elasticity of Substitution (CES) Utility Functions     Voice-Over

when alpha = 0.5 and rho varies: (a) rho = -0.8; (b) rho = -0.2; (c) rho = 2

Quasilinear Utility Functions: (a) alpha = 150; (b) alpha = 20     Voice-Over