Business, 08.12.2019 04:31, norahramahi123

Consider the effect on the consumer as you read these two scenarios, and then answer the question that follows.

scenario 1
derek goes to the corner grocery store to pick up carrots for a salad. he notices that this store has nearly doubled its price for carrots. not willing to pay that much, he gets into his car and drives to the grocery store farther away. he finds the exact same type of carrots there at the price he was expecting. happy, he buys them and returns home.

scenario 2
melissa plans to buy a new computer. she’s seen commercials for a new model that has many innovative features that will be to her in college. she’s excited to buy this computer, but she thinks the price is high. she goes to many stores and searches online to find another computer for a cheaper price without success. realizing that the computer is the only one with all the features she wants, she purchases it.

what is the relationship between competition and consumer action in these situations?

Answers: 1

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Consider the effect on the consumer as you read these two scenarios, and then answer the question th...