Sunday, March 1, 2009
Infinite Willingness to Pay?!
I've been under a lot of stress lately, for multiple reasons, but I realized one of the main reasons can be tied to economics in numerous ways. My boyfriend recently lost his job, and because of the way the economy is currently, is having difficulty finding a new one. I've been lending him some money to cover his bills until he is able to get back on his feet, but lately I've noticed a few consequences. Obviously, there are opportunity costs associated with what I am doing, for example I could be saving my money so that I am able to take the vacation I want to take this summer. Also, there are the physical things I could be buying for myself with the money I no longer have, and the fact that I would rather be buying gifts for my boyfriend than helping him to stay on his feet is also another opportunity cost. Then, I could even got a step further and look at the time aspect; the time I spend being stressed about my boyfriend could be used for other more productive things, such as homework, ha. When I take a step back and look at the big picture though, my willingness to pay has no value when I am helping someone I care about.
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