Jennifer is shopping and sees an attractive shirt. However, the price of $50 is more than she is willing to pay. A few weeks later, she finds the same shirt on sale for $25 and buys it. When a friend offers her $50 for the shirt, she refuses to sell it. Explain Jennifers behavior.

Jennifer is shopping and sees an attractive shirt. However, the price of $50 is more than she is willing to pay. A few weeks later, she finds the same shirt on sale for $25 and buys it. When a friend offers her $50 for the shirt, she refuses to sell it. Explain Jennifer’s behavior.

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Related Book For answer-question

Microeconomics

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

ISBN: 978-0132857123