Explain what may make the extra cost worth it to some people

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Reference no: EM133659856

Problem: Diminishing Marginal Utility per Dollar is an extension of Marginal Utility. There are several pairs of goods where one which costs more will bring more Marginal Utility but may not do the same for Marginal Utility per Dollar. Consider flying first class versus economy. First class obviously is more enjoyable, but does it bring more utility for the extra money that you would spend since first class also costs significantly more? For this discussion, your task is to: Generate another pair of goods where we would see a similar result as the first versus economy class airfare. Explain what may make the extra cost worth it to some people, but not to others.

Reference no: EM133659856

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