Final answer:
Micah can determine the better buy on shoes by calculating final costs after discounts from the three stores, analogous to comparing marginal utility in decision-making. Marvin's scenario with used cars illustrates a similar comparison where cost is the deciding factor when other attributes are equal.
Step-by-step explanation:
Micah is looking to compare discounts from three local stores to determine the better buy on a pair of shoes. To decide this, Micah will need to calculate the final cost after applying the discounts from each store. This involves a decision-making process that is somewhat similar to calculating marginal utility, where one assesses the additional satisfaction or value from purchasing an additional unit of a good or service.
The term 'util' is a measure of this satisfaction. However, in Micah's situation, the focus is on monetary savings rather than utils. By comparing the final costs after discounts at all three stores, Micah can establish which store offers the most savings and thus make an informed decision.
If we take Marvin's scenario, where he is deciding between two used cars with similar attributes but different prices, the decision-making process is a straightforward comparison of cost versus perceived value. If there are no substantial differences beyond price, Marvin would likely choose the less expensive option. Similarly, Micah should opt for the pair of shoes that offers the best value for the price after taking the store discounts into account.
The complete question is: Micah wants to purchase shoes from three local stores. Each store is having a sale, and they offer different discounts. Which store offered the better buy? is: