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econ question 3 - garment for a certain amount of money...

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KK Carothers Econ 101 Lin Zheng Question of the week #3 27 February 2008 Although students make purchases in the same Ithaca market for identical prices, they do not experience equal levels of happiness per dollar spent because every individual has different values. Harold Winter highlights this concept in Trade-Offs by demonstrating how someone may question his friend’s purchase of an unattractive
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Unformatted text preview: garment for a certain amount of money, claiming that the benefit of the item does not outweigh the cost. The friend, however, obviously believes that the transaction satisfies his desires; otherwise, he would not buy the item initially....
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