Homework Help: Economics

Posted by Chels on Wednesday, January 23, 2008 at 1:17pm.

A buyer is usually not willing to spend a lot of time and energy researching the market when:

c. savings to be made are small or
d. prices vary but quality is still the same

I read the text but I couldn't really find this exactly, both answers seem like they could be right but obviously one is better than the other. I think its C because if the savings is not substantial people arent going to go to all the trouble, but D Im not sure because if the quality is just as good as the next they might not research but I think people would still try to find the lower price?

Economics - Ms. Sue, Wednesday, January 23, 2008 at 1:21pm
Your first thought is correct. If prices vary for the same quality, then people will take the time to search out the lowest price.

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