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Suppose there are two individuals (person A and person B) who have the same preference for Kramer IMAX Theatre, i.e. their marginal benefits from watching movies are exactly the same and the more they watch the lower the satisfaction (benefit) they get from watching each additional movie. Person A does not have an annual membership to Science Centre and has to pay $9 per movie. Person B purchased the annual membership for $42 and therefore pays $7.20 per movie. Graphically and verbally describe which individual will watch more movies at the IMAX Theatre throughout the year.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91226760

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