Asked on 6 Aug 2018

Critics of marginal utility analysis argue that it is unrealistic to assume that people make the mental calculus of marginal utility per dollar for large numbers of products. But when you are making a decision to either go to a first-run movie or buy a used DVD of last summer’s blockbuster, does this analysis seem so complex? Is it a reasonable representation of your thought process?

Answered on 6 Aug 2018

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