/life/ireland/Economics is dumb.
Teacheth the 10th edition of "Microeconomics, 10th Canadian ed." by McConnell et al:
At a price of $2 for product B, the consumer represented by the data in the table maximizes utility by purchasing four units of product B. The decline in the price of product B to $1 upsets the consumer's initial utility-maximizing equilibrium. The consumer restores equilibrium by purchasing six rather than four units of product B.
I don't really understand how anyone can write that with a straight face. Maybe they didn't.
Comments
SK wrote
Whats wrong with that?
If my favorite restaurant cut their prices in half, I'd go their 6 times instead of 6.
SK wrote
Wow. Drink much?
If my favorite restaurant cut their prices in half, I'd go there 6 times instead of 4.
