Assume you are deciding where to eat dinner. The two options you are deciding between are...
Assume you are deciding where to eat dinner. The two options you are deciding between are Tuptim Thai and Monsoon Indian Grill. You value eating at Tuptim Thai at $28 and it will cost you $17 to eat there. It will cost you $14 to eat at Monsoon Indian Grill.
In the end, you decide to eat at Tuptim Thai What is the maximum amount you value eating at Monsoon Indian Grill?
Please give the equation you used, I know the answer is 25 I just don't know how to get there
Homework Answers
Maximum amount I value eating at Monsoon Indian = My value for eating at Tuptim Thai - Difference in cost of eating at Tuptim Thai and at Monsoon Indian
= $28 - $(17 - 14)
= $28 - $3
= $25
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