ECONOMICS 5 e Roger Arnold CHAPTER 19 The

ECONOMICS, 5 e Roger Arnold CHAPTER 19 The Logic of Consumer Choice

Exhibit 1 Total Utility, Marginal Utility, and the Law of Diminishing Marginal Utility Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 199

Exhibit 2 Consumer Equilibrium and a Fall in Price Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 200

Exhibit 3 Income and Substitution Effects Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 201

Exhibit 4 Total Costs and Marginal Costs Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 202

Exhibit 5 Efficiency Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 203

Exhibit 6 The Efficient Time Spent Kissing Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 204

Appendix B Exhibit 1 The Budget Constraint Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 205

Appendix B Exhibit 2 Changes in the Budget Constraint Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 206

Appendix B Exhibit 3 An Indifference Set and an Indifference Curve Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 207

Appendix B Exhibit 4 Indifference Curves for Goods Do Not Look Like This Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 208

Appendix B Exhibit 5 An Indifference Map Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 209

Appendix B Exhibit 6 Crossing Indifference Curves Are Inconsistent with Transitive Preferences Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 210

Appendix B Exhibit 7 Consumer Equilibrium Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 211

Appendix B Exhibit 8 From Indifference Curves to a Demand Curve Arnold Economics, 5 e / Ch. 19 The Logic of Consumer Choice © 2001 South-Western College Publishing 212