Imagine an economist ordering pizza by the slice. When deciding how many slices to order she would pick that number where the enjoyment of the _____ equals the enjoyment she could get from using the money on another good.

Question

Quizplus · Accepted Answer

The economist would pick the number of slices where the enjoyment of the last slice equals the enjoyment she could get from using the money on another good, reflecting the concept of marginal utility.

Imagine an Economist Ordering Pizza by the Slice