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Assume that an individual has to choose between two options, buying a cell phone or buying an iPad. ...

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Assume that an individual has to choose between two options, buying a cell phone or buying an iPad. ...

Assume that an individual has to choose between two options, buying a cell phone or buying an iPad. The expected cost of buying a phone is $700 and the expected benefit is $900. The expected cost of buying an iPad is $300 and the expected benefit is $600. How does the individual arrive at the optimal choice if he implements:
a) optimization using total value?
b) optimization using marginal analysis?

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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choroni64

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More solutions for this book are available here

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psintusaichol Author

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Thanks

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Brilliant ツ

mcraver1

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Helped a lot

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