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Social Science Clinic => Economics => Microeconomics => Topic started by: EY67 on Jul 21, 2019

Title: When would a consumer be indifferent about continuing to search for a lower price?
Post by: EY67 on Jul 21, 2019

When would a consumer be indifferent about continuing to search for a lower price?

Title: When would a consumer be indifferent about continuing to search for a lower price?
Post by: olderstudent on Jul 21, 2019

A consumer would be indifferent about continuing to search for a lower price when the marginal benefit from searching for a lower price is equal to the marginal cost of continuing to search for a lower price. When this happens, the consumer has reached his or her reservation price.

Title: When would a consumer be indifferent about continuing to search for a lower price?
Post by: EY67 on Jul 21, 2019

Thanks

Title: When would a consumer be indifferent about continuing to search for a lower price?
Post by: olderstudent on Jul 21, 2019

Welcome :)