Discuss product and the prices

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Visit a local grocery store or restaurant. An online grocery store, such as Netgrocer.com, will also work. Select an item that is offered in three different sizes and calculate the average price per unit based on the three different sizes and the marginal price as the size increases.

-Discuss your product and the prices.

-Does the average and marginal price per unit decline as the size increases? Explain why a store would potentially want to decrease the per unit price as the size increases.

-Explain why it is rational to spend your income on those items that give the greatest marginal utility per dollar.

-Is the marginal utility of dating the same person increasing or decreasing? Explain why.

Reference no: EM133037188

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