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Assume that an individual has to decide between a 2-day vacation and a 3-day vacation to the same ...
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Assume that an individual has to decide between a 2-day vacation and a 3-day vacation to the same ...
Assume that an individual has to decide between a 2-day vacation and a 3-day vacation to the same place. If he uses optimization using marginal analysis, he will ________.
▸ compare the total net benefits of both alternatives
▸ spend more time to make a decision than he would had he used optimization using total value
▸ only think about the net benefits of the extra day
▸ choose the 3-day vacation only if the costs incurred on the third day exceed the benefits he receives
Textbook
Macroeconomics
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3
rd
Authors:
Acemoglu, Laibson, List
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djchewinggum
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Thank you, thank you, thank you!
KaylenePig
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Correct
TY
amandamraz
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Smart ... Thanks!
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