Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507041
Author: Colander, David
Publisher: MCGRAW-HILL HIGHER EDUCATION
Question
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Chapter 4, Problem 5QAP

(a)

To determine

Describe whether consumers make purchasing decisions based on the general rules of thumb instead of price.

(b)

To determine

Explain the conclusion drawn about the markets.

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