Cam’s dad, Merle, is fighting with Cam’s mom and they are considering a divorce. After seeing Jay with Gloria, Merle thinks he might be able to do better, but Gloria paints a bleak picture of his future. Does Merle really have better options waiting out there or would he maximize his expected utility by staying with his current wife?
See more: cost benefit analysis, expectations, opportunity cost, tradeoffs, utility
The Tooth Fairy leaves Lily $100 for her first tooth. Mitch says the going rate must be $5 tops and that theTooth Fairy must have made a mistake.
See More: demand, equilibrium, expectations, market price, prices, supply
There’s a lot going on in this clip. The main focus is on Claire and Jay. Pritchett Closets (which Jay founded and Claire runs) has been selected to participate in the Expo Internationale du Closet! Both Claire and Jay are over the moon excited. But why? Participating in this event exposes them to an international market. They can expect a big increase in demand for their product. The second focus is on Manny. Manny has moved out but found that there are certain things about living at home that he really misses. This is something that a lot of people discover when they move out. These early lessons in personal finance can be tough!
See more: demand, expectations, international trade, personal finance, trade
Alex chooses the cello to play in the orchestra because she thinks cellos are in demand in university orchestras. Claire and Phil had recommended she play the violin so that she wouldn’t have to carry around so much, but Alex thinks she’s made the right choice.
See more: choices, demand, expectations, supply, tradeoffs