To Fly Fast or Fly Far

When Cessna Aircraft Corporation and Gulfstream Aircraft, Inc. Each prepared to introduce new business jets- the Cessna Citation X and Gulfstream V – analysts predicted that the success of the two different aircraft would reveal the relative importance to business buyers of speed and range.

Did speed of the Citation X or Gulfstream V prevail?

Marginal Rate of Substution equals Delta Y divided by Delta X

Measures the number of units of Y that must be given up per unit of X added so as to maintain a constant level of utility.

Which produces an indifferance curve that is negatively sloped and convex

An indiferance map is made up of two or more indifferance curves, while a indiferance curve that is plotted higher and right on an indifference map represents a higher level of utility.


Note 1: Managerial Economics, eighth edition, Chritopher R Thomas and. Charles Maurice
Note 2:


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