Cost-Benefit Analysis- Micro Topic 1.5
Hey internet! This is Jacob Clifford. In this episode I explain explicit and implicit benefits and costs. I also define utility and explain the idea of cost-benefit analysis. The answers to the practice questions are in the comments below. Be sure to let me know how you did on the quiz AND if you understand why the guy that went to his girlfriends movie still picked teh option that he wanted to do. Also, let me know how much you would accept for your dog (or cat or parakeet). Thanks for watching my econ video. You rock! Our song • Dionne Farris - Hopeless
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