We can measure how much someone values the personal touch of a small grocery store by using
Question:
We can measure how much someone values the personal touch of a small grocery store by using the amount extra they pay at that store even when there is a Walmart in town. Economists call that
a. Revealed demand.
b. Revealed preference.
c. Parsing the preference.
d. Noting the demand.
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b Revealed preference Explanation There may be some location...View the full answer
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