Chapter 3 Demand and Behavior in Markets
Copyright © 2001 Addison Wesley LongmanSlide 3- 2 Figure 3.1 Optimal Consumption Bundle
Copyright © 2001 Addison Wesley LongmanSlide 3- 3 Figure 3.2 Income Expansion Path
Copyright © 2001 Addison Wesley LongmanSlide 3- 4 Figure 3.3(a) Superior and Inferior Goods
Copyright © 2001 Addison Wesley LongmanSlide 3- 5 Figure 3.3(b) Superior and Inferior Goods
Copyright © 2001 Addison Wesley LongmanSlide 3- 6 Figure 3.4(a) Income and Tastes
Copyright © 2001 Addison Wesley LongmanSlide 3- 7 Figure 3.4(b) Income and Tastes
Copyright © 2001 Addison Wesley LongmanSlide 3- 8 Figure 3.5 Varying Prices
Copyright © 2001 Addison Wesley LongmanSlide 3- 9 Figure 3.6 Price-Consumption Path
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.7 Demand Curve for Good 1
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.8(a) Nonconvex Preferences and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.8(b) Nonconvex Preferences and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.9(a) Nonstrictly Convex Indifference Curves and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.9(b) Nonstrictly Convex Indifference Curves and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.10(a) Income Effects, Substitution Effects, and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.10(b) Income Effects, Substitution Effects, and Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.11 Compensating for Price Changes
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.12 Income and Substitution Effects Work in Opposite Directions
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.13 Giffen Good
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.14 Deriving Compensated Demand Curves
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.15 Plotting Compensated and Uncompensated Demand Curves
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.16(a) Compensated Demands of Rats
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.16(b) Compensated Demands of Rats
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.17 Compensated Demand Function of Rats
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.18 Work and Leisure
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.19 Income and Crime
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.20 The Paradox of Crime Prevention
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.21 Elasticity along a Linear Demand Curve
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.22(a) Perfectly Elastic and Perfectly Inelastic Demand Curves
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.22(b) Perfectly Elastic and Perfectly Inelastic Demand Curves
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.23 The Demand for Nintendo Time
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.24 The Multiplication Factor
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.25 Ordinal Utility Property
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.26 Deriving Market Demand from Individual Demand
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.27 Derivation of an Expenditure Function
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.28(a) Willingness to Pay and Consumer Surplus
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.28(b) Willingness to Pay and Consumer Surplus
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.29
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.30 Supply and Demand Curves for the Experimental Markets
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.31 Exact and Approximate Measures of Consumer Surplus
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.32 Change in Consumer Surplus
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.33 Price Compensating Variation in Income
Copyright © 2001 Addison Wesley LongmanSlide Figure 3.34