Economics Essay Example | Topics and Well Written Essays - 500 words

Economics - Essay Example Taking into this account, how might my personal behavior patterns show a different type of decision process? I was at a fast food place once grabbing a burger to eat. Inevitably, â€Å"upselling† at the end of the transaction occurs where they offer fries and a drink. I almost instinctivey said â€Å"Yes†, then began to do marginal analysis. I would save money, but how much? Looking at the menu, I found that the a la carte cost would be thirty cents more. I didn't really want fries and a drink, I would only have purchased it out of an irrational desire not to miss a deal even when the deal is not necessary. I ended up changing my mind and saying no and was very glad to have saved the two dollars. The marginal benefit of the additional food and the beverage did not eclipse the marginal cost, even though I had lost an opportunity and therefore incurred opportunity cost by not pairing the meal. Normally, I would have chosen such a meal: I just happened to be thinking about it. I might even have ingested the calories happily, not realizing I actually hadn't been that hungry, causing me to eat more than my plan for the day. The fast food place thus already has a powerful incentive: The desire for people to avoid a missed opportunity combined with a nominal discount on associated items.