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Applied Microeconomics

December 1, 2009

From a series of forum posts:

Person 1: I wasn’t all that impressed with [Johnny Walker] Blue… it seemed to go so far down the “how smooth can we make it” path that it didn’t have a whole ton of personality…

Person 2: People don’t drink Johnny Walker Blue because they like it… people drink it because they can then brag about it. It’s like lighting a cigar with a $50. It sure doesn’t make the cigar any better.

Person 3: Law of diminishing returns. The first few dollars it’s easy to tell the difference, after a while it becomes nigh on impossible.

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