Chapter 5, Problem 22AA

To determine

To explain: The reason to choose other milk despite of difference in their prices.

Explanation of Solution

Milk is a necessary commodity whose quality is the primary factor that is considered while consuming it. If the quality of milk is low then it will not be suitable or fruitful to consume it. Generally, people prefer milk that is high-quality irrespective of their prices. For example, if the two quality milk is available in the market and low-quality milk has a lower price and high quality has a higher price than the people will consider buying high quality good because consumption of low quality good will not give any health benefit and all money spent on this milk will be futile. Therefore, people consider good quality milk regardless of its price.