15.13A friend of yours is in the market for a new computer. Four different machines are under consideration. The four computers are essentially the same, but they vary in price and re liability. The least expensive model is also the least reliable, the most expensive is the most reliable, and the other two are in between.

aDescribe to your friend how you would approach the decision.

bDefine reliability in a way that would be appropriate for the decision. Do you need to consider risk? c How might your friend go about establishing a marginal rate of

substitution between reliability and price?