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Suppose that on her way to work, Mary stops to get gas and pays $ 2 a gallon. However, there is a gas station one
Suppose that on her way to work, Mary stops to get gas and pays $ a gallon. However, there is a gas station one block away selling gas for $ a gallon. Mary's decision to pay a higher price in gas can be seen as rational under which scenarios
Mary was unaware of the fact that the other gas station had lower gas prices.
Mary's decision is in fact not rational, for if she were, she would have made the best possible decision.
Although Mary was aware of the other gas station, she was late for work, and had to knowingly pay a higher price.
Both and
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