Someone who pays $800 to fly from one city to another instead of paying only $100 for a bus trip between the two cities is making an irrational choice and is thus not maximizing his utility.

Question

Quizplus · Accepted Answer

Utility maximization is subjective and depends on individual preferences, such as valuing time over money, comfort, or convenience, which could justify the higher cost of flying over taking a bus.

Someone Who Pays $800 to Fly from One City to Another