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TOPICS FOR FURTHER STUDY
7 TOPICS FOR FURTHER STUDY
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The Theory of Consumer Choice
21 The Theory of Consumer Choice
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Figure 1 The Consumer’s Budget Constraint
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Figure 2 The Consumer’s Preferences
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Figure 3 The Impossibility of Intersecting Indifference Curves
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Figure 4 Bowed Indifference Curves
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Figure 5a Perfect Substitutes and Perfect Complements
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Figure 5b Perfect Substitutes and Perfect Complements
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Figure 6 The Consumer’s Optimum
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Figure 7 An Increase in Income
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Figure 8 An Inferior Good
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Figure 9 A Change in Price
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Table 1 Income and Substitution Effects When the Price of Pepsi Falls
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Figure 10 Income and Substitution Effects
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Figure 11a Deriving the Demand Curve
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Figure 11b Deriving the Demand Curve
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Figure 12 A Giffen Good
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Figure 13 The Work–Leisure Decision
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Figure 14a An Increase in the Wage
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Figure 14b An Increase in the Wage
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Figure 15 The Consumption–Saving Decision
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Figure 16a An Increase in the Interest Rate
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Figure 16b An Increase in the Interest Rate
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