IntermediateMicroeconomicsandItsApplicationThispageintentionallyleftblankIntermediateMicroeconomicsandItsApplication11EWALTERNICHOLSONAMHERSTCOLLEGECHRISTOPHERSNYDERDARTMOUTHCOLLEGEAustralia•Brazil•Japan•Korea•Mexico•Singapore•Spain•UnitedKingdom•UnitedStatesIntermediateMicroeconomics,EleventhEditionWalterNicholsonandChristopherSnyderVicePresidentofEditorial,Business:JackW.CalhounPublisher:MelissaAcunaAcquisitionsEditor:MikeRocheDevelopmentalEditor:SusanSmartMarketingManager:JohnCareyMarketingCoordinator:SuellenRuttkayContentProjectManager:DarrellFryeMediaEditor:DeepakKumarFrontlistBuyer,Manufacturing:SandeeMilewskiCompositorandProductionService:CadmusCommunicationsSr.ArtDirector:MichelleKunklerInternalDesigner:JuliCookCoverDesigner:RoseAlcornCoverImage:ªGeorgeClerk/iStockphotoPhotographyManagerª2010,2007South-Western,CengageLearningALLRIGHTSRESERVED.Nopartofthisworkcoveredbythecopyrighthereonmaybereproducedorusedinanyformorbyanymeans—graphic,electronic,ormechanical,includingphotocopying,recording,taping,Webdistribution,informationstorageandretrievalsystems,orinanyothermanner—exceptasmaybepermittedbythelicensetermsherein.Forproductinformationandtechnologyassistance,contactusatCengageLearningCustomer&SalesSupport,1-800-354-9706Forpermissiontousematerialfromthistextorproduct,submitallrequestsonlineatwww.cengage.com/permissionsFurtherpermissionsquestionscanbeemailedtopermissionrequest@cengage.comExamView�isaregisteredtrademarkofeInstructionCorp.WindowsisaregisteredtrademarkoftheMicrosoftCorporationusedhereinunderlicense.MacintoshandPowerMacintoshareregisteredtrademarksofAppleComputer,Inc.usedhereinunderlicense.ª2010CengageLearning.AllRightsReserved.LibraryofCongressControlNumber:2009931153StudentEditionISBN13:978-1-4390-4404-9StudentEditionISBN10:0-4390-4404-XStudentEditionwithInfoAppsISBN13:978-0-324-59910-7StudentEditionwithInfoAppsISBN10:0-324-59910-2South-WesternCengageLearning5191NatorpBoulevardMason,OH45040USACengageLearningproductsarerepresented...
