5.1. The maximum and minimum prices 81
5.2. The influence of prices on market activity ....................................... 84
5.3. The negative consequences of price controls ............................... 89
Brief conclusions ......................................................................................... 91
Control questions …………......................................................................... 92
CHAPTER VI. Consumers, producers and the efficiency of markets
6.1. Surplus of the consumer....................................................................... 93
6.2. Surplus of manufacturer...................................................................... 100
6.3. Market Efficiency ................................................................................. 105
Brief conclusions ......................................................................................... 113
Control questions …………......................................................................... 114
CHAPTER VII. The theory of consumer choice
7.1. Budget line: what opportunities do consumers have? ........................... 116
7.2. Choice: what the consumer wants ......................................................... 118
7.3. Optimization: what the consumer chooses .......................................... 124
7.4. Three Recommendations ...................................................................... 132
Brief conclusions ......................................................................................... 143
Control questions …………......................................................................... 144
CHAPTER VIII. Market and risk
8.1. Risk measurement................................................................................... 145
8.2. Attitude to risk ........................................................................................ 149
8.3. Reducing the risk................................................................................. 152
8.4. Market of assymetric information......................................... 154
8.5. Political economy................................................................ 162
8.6. Economics of behavior. 168
Brief conclusions ......................................................................................... 173
Control questions …………......................................................................... 175