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AndrewKraus AndrewKraus
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6 years ago
Assume that an individual has to choose between two options: buying a mobile phone, or buying an iPod. The expected cost of buying a phone is $700 and the expected benefit is $900. The expected cost of buying an iPod is $300, and the expected benefit is $600. How does the individual arrive at the optimal choice if he implements:
a)   optimization in levels?
b)   optimization in differences?
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Microeconomics

Microeconomics


Edition: 1st
Authors:
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losteinlostein
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AndrewKraus Author
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#2
6 years ago
This helps with my assignment big time
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