1. Imagine you are talking to a friend about the courses you are taking in the MBA program, and you mention that you are taking an economics course. Your friend responds that they remember having to take econ in college and not liking it. When you ask why, they reply that they never bought the whole "compare marginal benefits to marginal costs" way of thinking about a decision. They say that too many of life's choices are all-or-nothing, so even if one were to compare benefits to costs, you'd ust use the total benefits and total costs. They even give you an example to prove their point, "When I buy a car, I either buy or not, so I either have a car or I don't. It's not about a little change, it's an expensive, yes or no decision!" How might you respond to your friend, using what you know of marginal decision-making? Do you agree that this is an all-or-nothing choice that doesn't require marginal thinking? Why or why not? (Hints: Is buying a car the only way to get access to one? Or to get you where you need to go? What if a family already has one and is considering a second?)