A look at hidden economic concepts in the hit ABC hit comedy series Modern Family.
Phil and Jay must decide which of the two candidates to hire, but they are significantly different workers. Instead of considering the costs and benefits, they flip a coin with their two heads on it.
See more: cost benefit analysis, decision making, either-or-decisions, labor
Phil and Claire get a special coin made to determine decisions they disagree on. As a final decision, they flip to decide how to spend their retirement account. Unfortunately for the kids, the coin decides that they spend it on a beach condo.
See more: cost benefit analysis, decision making, either-or-decisions
