Even though we distinguish between continuous and discrete


Question: Even though we distinguish between continuous and discrete uncertain quantities, in reality everything is discrete if only because of limitations inherent in our measuring devices. For example, we can only measure time or distance to a certain level of precision. Why, then, do we make the distinction between continuous and discrete uncertain quantities? What value is there in using continuous uncertain quantities in a decision model?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Even though we distinguish between continuous and discrete
Reference No:- TGS02319462

Expected delivery within 24 Hours