Question: An August 12, 2011, article in Time, As Regular Malls Struggle, Outlet Malls Are Booming, analyzed trends in how consumers shop, and found that more

An August 12, 2011, article in Time, “As Regular Malls Struggle, Outlet Malls Are Booming,” analyzed trends in how consumers shop, and found that more and more consumers are visiting outlet malls as a way to save money on name brand clothing and housewares. Given that most stores offer an outlet option, why would anyone choose to pay more at regular malls? Use supply and demand analysis to explain why prices differ between regular stores and outlet stores. Why would outlet stores be a strategic way for businesses to sell their unsold (surplus) goods instead of just offering a sale at their regular stores?

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