Web Links

Issues and Applications—Web Resources:

• To learn more details about the General Social Surveys, use the link at http://www.nsf.gov/pubs/2007/nsf0748/nsf0748_3.pdf.
• To read a recent study by David Blanchflower and Andrew Oswald applying happiness measures derived from surveys to the United States and the United Kingdom, go to http://www2.warwick.ac.uk/fac/soc/economics/staff/faculty/oswald/finaljpubecwellbeingjune2002.pdf.

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. At the top of the page, find the list of the top books in the Amazon.com "Bestsellers" section. Click on the number one book. Record the price of the book. Then locate the Search window. Type in Economics Today. 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 Economics Today 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.