An age old economics question that I just made up: would you rather have 10 dingles for 4 dongles or 4 dingles for 10 dongles? First of all, what does that mean? What is a dingle and what is a dongle? Are they equivalent in value or are they not? Changing the inherent value of a dingle and dongle entirely flips the relationship on its head. It goes to show how relativism is highly important in pricing economics. To bring a real-life example, if I were given the choice to buy a Honda Accord for $10,000 or a Toyota Camry for $10,000, both with the same mileage, I would choose the Honda Accord 10 times if I were asked this question 10 times. It’s simply the better, more powerful car.
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