Web Links

Appendix E: More Advanced Consumer Choice Theory:

To learn about the effects of changes of income and prices and to work with problems on advanced consumer choice theory, view this addition to Appendix E: More Advanced Consumer Choice Theory.

Marginal URLs:

The link for page 525 is no longer available.

Issues and Applications—Web Resources:

• To obtain the Transportation Security Administration's estimates of the security wait times on various days of the week and at various times of the day at U.S. airports, use the link at http://waittime.tsa.dhs.gov/index.html.
• To learn about how the Oakland, California airport has fostered policies aimed at reducing the marginal utility per dollar spent on its facilities, go to http://www.oaklandairport.com/competition_plan.shtml.

Book Prices and Consumer Optimum

This application helps you see how a consumer optimum can be attained when one engages in Internet shopping.

Title: Amazon.com Web site

Navigation: Go to http://www.amazon.com/ to start at Amazon.com's home page. Select to browse the Books section.

Application:

1. On the right-hand side of the page, find the list of the top books in the Amazon.com Top 100 section. Click on the number one book. Record the price of the book. Then locate the Search window. Type in "Roger LeRoy Miller." Scroll down until you find your class text listed. Record the price.

2. Suppose you are an individual who has purchased both the number one book and your class text through Amazon.com. Describe how economic analysis would explain this choice.

3. Using the prices you recorded for the two books, write an equation that relates the prices and your marginal utilities of the two books. Use this equation to explain verbally how you might quantify the magnitude of your marginal utility for the number one book relative to your marginal utility for your class text.