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Suppose I am deciding how many Cartier Bracelets(B) bracelets are freeand limitless in supply. Suppose my utility or happiness function is represented by U= 20
Suppose I am deciding how many Cartier Bracelets(B) bracelets are freeand limitless in supply. Suppose my "utility" or happiness function is represented by U= 20 + 5C, describe fully how marginal analysis can be used to determine the optimal decision. What's my intercept? Is this equation reasonable? How many Bracelets should I take?Be sure to draw a graph and provide a clear description of the marginal analysis technique as applied to your example.
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