In 2015, Americans downloaded 1,200 million singles at $1.20 each and 100 million albums at $10 each.

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In 2015, Americans downloaded 1,200 million singles at $1.20 each and 100 million albums at $10 each. They also bought 1 million singles on vinyl at $11 each and 100 million albums on CDs at $12.50 each. What does marginal utility theory tell you about the ratio of the marginal utility from singles on vinyl to the marginal utility from singles downloads? What does it tell you about the ratio of the marginal utility from albums on CDs to the marginal utility from album downloads?

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Foundations Of Economics

ISBN: 9780134486819

8th Edition

Authors: Robin Bade, Michael Parkin

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