CHAPTER 19 Consumer Choice Maximizing Utility and Behavioral

CHAPTER 19 Consumer Choice: Maximizing Utility and Behavioral Economics

Exhibit 1 Total Utility, Marginal Utility, and the Law of Diminishing Marginal Utility Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 192

Exhibit 2 Consumer Equilibrium and a Fall in Price Arnold Economics, 6 e /

Exhibit 3 Income and Substitution Effects Arnold Economics, 6 e / Ch. 19 Consumer

Appendix C Exhibit 1 The Budget Constraint Arnold Economics, 6 e / Ch. 19

Appendix C Exhibit 2 Changes in the Budget Constraint Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 196

Appendix C Exhibit 3 An Indifference Set and an Indifference Curve Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 197

Appendix C Exhibit 4 Indifference Curves for Goods Do Not Look Like This Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 198

Appendix C Exhibit 5 An Indifference Map Arnold Economics, 6 e / Ch. 19

Appendix C Exhibit 6 Crossing Indifference Curves Are Inconsistent with Transitive Preferences Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 200

Appendix C Exhibit 7 Consumer Equilibrium Arnold Economics, 6 e / Ch. 19 Consumer

Appendix C Exhibit 8 From Indifference Curves to a Demand Curve Arnold Economics, 6 e / Ch. 19 Consumer Choice: Maximizing Utility and Behavioral Economics © 2004 South-Western, a division of Thomson Learning™ 202