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An old canceled u.s. stamp of an upside-down airplane is worth $80,000, but a newer stamp in 2008 that features bette davis is worth only $0.42. this is explained by the fact that the:_____.

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A cancelled vintage U.S. stamp depicting an upside-down Aeroplan is worth $[tex]80,000,[/tex]yet a more recent stamp from[tex]2008[/tex] with Bette Davis is only worth $[tex[tex]]0.42[/tex].[/tex]This is explained by the laws of supply and demand, which state that the scarcer a good is, the higher its marginal utility, and the better its price.

Magical Utility is a concept used in microeconomics to connect the quantity of goods consumed and the level of happiness or satisfaction a consumer experiences. The concept of marginal utility describes how much more value or happiness a consumer receives by consuming a unit of a good. According to microeconomic theory, consumer decisions are based on margins, which means that consumers constantly weigh the marginal value of purchasing extra items against the cost of doing so. A buyer purchases

Learn more about marginal utility here

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