Question

Suppose you went to watch a movie in a theatre with a friend. Assuming you watched...

Suppose you went to watch a movie in a theatre with a friend. Assuming you watched the same movie as your friend and paid the same price for the movie ticket,

(i) Suggest a situation where you get more benefits out of watching the movie than your friend.

(ii) If this is the third movie you have watched so far in this month, what is your marginal choice in this situation?

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Answer #1

i. A situation where I get more benefit than my friend, despite it being the same movie and I paying the same price is that when I get a seat which gives me a much better view of the screen and comfort. For example, if I get the center seat high above in the rows, and my friend gets a corner seat in the first row, then I will get more benefit out of the movie.

ii. My marginal choice is between the price of the ticket and the enjoyment I will get from watching a third movie. If the marginal benefit of watching the movie is higher than the price of the ticket, then I will watch the third movie, otherwise I wont watch it.

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