Using the marginal analysis, how would you choose what to buy, beef or shrimp?
May 17, 2021 Comments Off on Using the marginal analysis, how would you choose what to buy, beef or shrimp? Uncategorized Assignment-help
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Marginal Analysis Suppose that you go to a store to buy protein for dinner. You notice that a pound of beef costs you $2 and a pound of shrimp cost you $8. You are asking youself, “is it worth it” to spend the extra $6 to buy the shrimp. Using the marginal analysis, how would you choose what to buy, beef or shrimp? Supply and Demand If prices are supposed to measure the of a good, why do you think that water is cheap but diamonds are expensive-even though water is far more valuable to life than diamond?