Why anyone would buy milk in the store with higher price


Problem

Go to two stores:

a supermarket and a convenience store. a. Write down the cost of a gallon of milk in each.

b. The prices are most likely different. Using the terminology used in this chapter, explain why that is the case and why anyone would buy milk in the store with the higher price.

c. Do the same exercise with shirts or dresses in Walmart (or its equivalent) and Saks (or its equivalent).

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why anyone would buy milk in the store with higher price
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