Discussion Post: Microeconomics
Part I: Substitutes and Complements
i. How do retail stores display their merchandise taking into account substitute or complementary goods? Give some examples.
ii. Have your purchases been influenced by these marketing techniques? Give some examples.
Part II: Principle of diminishing Marginal utility
A local restaurant offers an "all you can eat" ribs special. If a person pays $11.95, he can eat as many servings as he desires at no additional cost. Do you think the local restaurant will go bankrupt because people will eat much more than what they are paying for? Why?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.