Assume that an individual has to choose between two options,buying a cell phone or buying an iPad.The expected cost of buying a phone is $700 and the expected benefit is $900.The expected cost of buying an iPad is $300 and the expected benefit is $600.How does the individual arrive at the optimal choice if he implements:
a)optimization using total value?
b)optimization using marginal analysis?

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The Answer of Assume that an individual has to choose between two options,buying a cell phone or buying an iPad.The expected cost of buying a phone is $700 and the expected benefit is $900.The expected cost of buying an iPad is $300 and the expected benefit is $600.How does the individual arrive at the optimal choice if he implements:
a)optimization using total value?
b)optimization using marginal analysis?

Assume That an Individual Has to Choose Between Two Options,buying