Chapter 5 Question ○○1

Why does the freezer light up when I open the refrigerator, but the freezer doesn't? (Lim Aberdala) To answer this question, economists must compare the relative costs and benefits.Whether it's in a freezer or a freezer, installing a light that turns on automatically when you open the door costs about the same.This is what economists call a fixed cost, meaning in this case that it doesn't change with how often you open and close the refrigerator door.From the perspective of income, there is a light in the cabinet, which makes it easier for you to find things.Since most people open the freezer much more often than they open the freezer.Obviously, the benefit of installing a light in the refrigerator is even greater.Therefore, since the cost of installing a lamp is the same, according to the principle of cost-effectiveness, it is more cost-effective to install a lamp in a refrigerator than to install a lamp in a freezer.

Of course, not all consumers think that it is not cost-effective to install a light in the freezer.In general, if measured by who is willing to pay for the benefits of such functions, the higher a person's income, the more likely he is willing to pay for additional functions.Therefore, the cost-benefit principle tells us that in order to enjoy the convenience brought by the lights in the freezer, consumers with higher incomes may be more willing to spend more.Sure enough.The Pro48 from high-end refrigerator maker Sub-Zero has lights not only in the freezer but also in each individual ice tray.What is the price of this refrigerator?Fourteen thousand four hundred and fifty dollars.So, Sub-Zero's Pro48 refrigerator is another exception that proves the principle of cost-effectiveness.