Consumer Choices
Learn how to make optimal consumer choices by understanding concepts such as total utility, marginal utility, demand curves, and intertemporal choices, as well as the impact of changes in income and prices on consumer decision-making in various settings such as government, business, and financial markets.
Introduction to Consumer Choices
Consumption Choices
Total Utility and Diminishing Marginal Utility
Choosing With Marginal Utility
A Rule For Maximizing Utility
Measuring Utility With Numbers
Key Concepts and Summary
How Changes in Income Affect Consumer Choices
How Price Changes Affect Consumer Choices
The Foundations of Demand Curves
Applications in Government and Business
Key Concepts and Summary
Labor-Leisure Choices
The Labor-Leisure Budget Constraint
Applications of Utility Maximizing With the Labor-Leisure Budget Constraint
Key Concepts and Summary
Intertemporal Choices in Financial Capital Markets
Using Marginal Utility to Make Intertemporal Choices
Applications of the Model of Intertemporal Choice
The Unifying Power of the Utility-Maximizing Budget Set Framework
Behavioral Economics: An Alternative Viewpoint
Key Concepts and Summary