BU 224 Week 5 Discussion | Assignment Help | Purdue University Global
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- 08 Nov 2019
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BU 224 Week 5 Discussion | Assignment Help | Purdue University Global
Unit
5 Discussion
Topic:
Tailored Clothes
1. Assume
that you were ready to buy a custom tailored dress (or men’s suit) and you are
prepared to pay up to $200 for it. Also assume that the tailor is prepared to
sell that item of clothing for as little as $100. When you arrive at the tailor
shop, the posted price for the item is $150. Discuss how this scenario relates
to producer and consumer surplus and how such surpluses, if any, affect buying
and manufacturing decisions.
2. Discuss
any recent purchases you have made and for which you feel that a similar
rationale seemed to be at work.
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