Macro and Micro

Read the article in the link below and answer the following questions:
https://www.investopedia.com/articles/personal-finance/032615/how-microeconomics-affects-everyday-life.asp

1. The article talks about maximizing utility, consider 2 people one who likes a lot of amenities: Pool, clubhouse, washer/dryer inside the apartment and the other who doesn’t need these amenities. If the difference in price for the apartment with many amenities compared to the one without the amenities is

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$ 300/ month, which would you choose and why… be very specific.

2. You are searching for an apartment and you know that by continuing to search, you will save money. You ALSO know that continuing to search will COST you (not just explicit costs, but implicit costs). Given the notion of opportunity cost in the article AND in the book, how long should you search for the apartment and why? Be specific.

Recall that a score of 30 % or more using Turnitin will require a resubmit. For more information on Macro and Micro check on this: https://en.wikipedia.org/w/index.php?search=Macro+and+Micro&title=Special%3ASearch&go=Go&ns0=1

 

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