1.11. Jennifer is shopping and sees an attractive shirt. However, the price of $50 is more than...

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1.11. Jennifer is shopping and sees an attractive shirt. However, the price of $50 is more than she is willing to pay. A few weeks later, she finds the same shirt on sale for $25 and buys it. When a friend offers her $50 for the shirt, she refuses to sell it. Explain Jennifer’s behavior.

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Microeconomics

ISBN: 9780132080231

7th Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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