Price Theory and Applications
Price Theory and Applications, Seventh Edition
Steven E. Landsburg VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Alex von Rosenberg Senior Acquisitions Editor: Steve Scoble Developmental Editor: Joanne Vickers Ohlinger Publishing Services Marketing Manager: Brian Joyner Marketing Communications Manager: Sarah Greber Content Project Manager: Amy Hackett Manager, Editorial Media: John Barans Technology Project Manager: Deepak Kumar Senior Manufacturing Coordinator: Sandee Milewski Production House: Pre-PressPMG Printer: Transcontinental Louiseville, QC Senior Art Director: Michelle Kunkler Internal Designer: Patti Hudepohl Cover Designer: Ramsdell Design Cover Images: ©Charles Wysocki, Inc. Licensed by Mosaic Licensing, Inc.
COPYRIGHT © 2008, 2005 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are trademarks used herein under license. Printed in Canada 1 2 3 4 5 10 09 08 07 Student Edition ISBN 13: 978-0-324-57993-2 Student Edition ISBN 10: 0-324-57993-4
ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storage and retrieval systems, or in any other manner—without the written permission of the publisher. For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com.
Library of Congress Control Number: 2007927365 For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563
Thomson Higher Education 5191 Natorp Boulevard Mason, OH 45040 USA
A B O U T
T H E
A U T H O R
Steven E. Landsburg is a Professor of Economics at the University of Rochester. His articles have appeared in the Journal of Political Economy, the Journal of Economic Theory, and many other journals of economics, mathematics,
Steven E. Landsburg VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Alex von Rosenberg Senior Acquisitions Editor: Steve Scoble Developmental Editor: Joanne Vickers Ohlinger Publishing Services Marketing Manager: Brian Joyner Marketing Communications Manager: Sarah Greber Content Project Manager: Amy Hackett Manager, Editorial Media: John Barans Technology Project Manager: Deepak Kumar Senior Manufacturing Coordinator: Sandee Milewski Production House: Pre-PressPMG Printer: Transcontinental Louiseville, QC Senior Art Director: Michelle Kunkler Internal Designer: Patti Hudepohl Cover Designer: Ramsdell Design Cover Images: ©Charles Wysocki, Inc. Licensed by Mosaic Licensing, Inc.
COPYRIGHT © 2008, 2005 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are trademarks used herein under license. Printed in Canada 1 2 3 4 5 10 09 08 07 Student Edition ISBN 13: 978-0-324-57993-2 Student Edition ISBN 10: 0-324-57993-4
ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storage and retrieval systems, or in any other manner—without the written permission of the publisher. For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com.
Library of Congress Control Number: 2007927365 For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563
Thomson Higher Education 5191 Natorp Boulevard Mason, OH 45040 USA
A B O U T
T H E
A U T H O R
Steven E. Landsburg is a Professor of Economics at the University of Rochester. His articles have appeared in the Journal of Political Economy, the Journal of Economic Theory, and many other journals of economics, mathematics,