(EKONOMI MIKRO) TEORI PERILAKU KONSUMEN

Summary

In this lecture on microeconomics, the professor introduces consumer behavior theory, focusing on two main approaches: the cardinal and ordinal methods. The cardinal theory quantifies utility through concepts like Total Utility and Marginal Utility, emphasizing diminishing returns. In contrast, the ordinal theory emphasizes consumer preferences, using tools like Indifference Curves and Budget Lines to show how consumers make choices based on available resources. Practical examples, such as choosing between sachet coffee and Starbucks, help students understand the real-world applications of these economic principles. The lecture concludes with an invitation for students to apply these concepts to their personal budgeting decisions.

Takeaways

• 😀 Consumer behavior theory explains how individuals allocate limited income to satisfy their needs through goods and services.
• 😀 The cardinal utility theory measures satisfaction (utility) numerically, using total and marginal utility as key concepts.
• 😀 Total utility refers to the overall satisfaction a consumer gets from consuming a certain quantity of goods or services.
• 😀 Marginal utility is the additional satisfaction gained from consuming one more unit of a good or service.
• 😀 According to the law of diminishing marginal utility, as the quantity of a good consumed increases, the marginal utility decreases.
• 😀 Gossen's First Law states that total utility increases with more consumption but marginal utility decreases over time.
• 😀 Gossen's Second Law states that consumers optimize their consumption when the marginal utility-to-price ratio is equal across all goods.
• 😀 Ordinal utility theory, in contrast to cardinal theory, uses preference rankings instead of numerical values to represent satisfaction.
• 😀 Indifference curves represent consumer preferences and show combinations of goods that yield the same satisfaction level.
• 😀 The marginal rate of substitution indicates how much of one good a consumer is willing to give up to gain an additional unit of another good.
• 😀 Budget lines represent the combinations of goods a consumer can afford given their income and the prices of goods, shifting with changes in income or prices.

Q & A

What is the main focus of the lecture?

The main focus of the lecture is on the theory of consumer behavior, particularly exploring how consumers allocate their limited income to maximize satisfaction through cardinal and ordinal utility approaches.

What does the cardinal utility theory assume about satisfaction?

Cardinal utility theory assumes that satisfaction (or utility) can be measured numerically, meaning that the satisfaction derived from consuming goods can be quantified.

What is the difference between total utility and marginal utility?

Total utility refers to the overall satisfaction a consumer gains from consuming a certain quantity of goods, while marginal utility is the additional satisfaction obtained from consuming one more unit of a good.

What is the relationship between total utility and marginal utility as consumption increases?

As consumption increases, total utility increases, but the marginal utility (additional satisfaction) decreases, a phenomenon explained by Gossen’s Law of Diminishing Marginal Utility.

What does Gossen’s Law state?

Gossen’s Law consists of two parts: the first states that as more units of a good are consumed, total utility increases, but at a decreasing rate, and the second suggests that consumers will optimize consumption when the marginal utility per unit of currency spent is equal across all goods.

How does the ordinal utility theory differ from the cardinal utility theory?

Ordinal utility theory does not assign numerical values to utility. Instead, it focuses on the ranking of consumer preferences and how they prioritize different goods, whereas cardinal utility theory quantifies utility.

What is an indifference curve, and what does it represent?

An indifference curve represents combinations of two goods that provide the same level of satisfaction to a consumer. It shows the trade-offs a consumer is willing to make between goods without affecting their total utility.

What is the Marginal Rate of Substitution (MRS)?

The Marginal Rate of Substitution is the rate at which a consumer is willing to sacrifice one good for another while maintaining the same level of satisfaction. It reflects the trade-off between goods based on consumer preferences.

How does a budget line relate to consumer choices?

A budget line represents the various combinations of goods that a consumer can afford, given their income and the prices of goods. It shows the financial constraint within which a consumer must make their consumption choices.

What happens to the budget line if there is a change in income or the price of goods?

If income increases, the budget line shifts outward, allowing the consumer to afford more goods. If the price of a good increases, the budget line shifts inward, reducing the combinations of goods the consumer can afford.