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( 6 points ) In town, store A sells Air Garnett's for $ 1 0 0 and Ronko Coffee Grinder for $ 1 2 5
points In town, store A sells Air Garnett's for $ and Ronko Coffee Grinder for $ Store B which is miles away, sells the same products for $ and $ respectively.
a points What is the expense in conceptual terms of Joe Blow going to store
b points What is the opportunity cost in conceptual terms of Joe Blow going to store
c points On Saturday, Joe Blow drives his year old daughter to Store B to get a pair of Air Garnets in order to save $ Two weeks later, Joe Blow refuses to drive his wife to Store B to buy a Ronko Coffee Grinder in order to save $ Assuming Joe Blow is acting in his perceived best interests, and all other things equal like the price of gas, weather, etc... so that the only difference is who is going to the store and what they will buy, explain Joe Blow's behavior using the rational rule.
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