Question

Maxine wishes to purchase a pair of running shoes made by her favorite brand. Her budget is limited, and she notices shoes made by a competing brand are on sale for 50% off retail price. She decides to purchase the shoes that are on sale most likely because

- she prefers brand names to reduced prices
- she tends to avoid sales offers
- the price of the alternative was too high
- the sale was for a limited time

Answer 1

The correct answer is The price of the alternative was too high.

Step-by-step explanation:

The market price is the price at which a good or service can be purchased in a free market. It is an economic concept of application both in historical aspects of the discipline and in its concrete use and in daily life.

The concept has given rise to both technical and theoretical discussions in the development of economic sciences. These discussions range from the definition of what a market is to what is understood by price, difficulties that acquire a particular importance in the microeconomics, an area in which one of the most important functions of an economist is the determination of prices that maximize profit of a company. However, the problem also extends to the macroeconomic sphere, in which price calculations play a central role in determining the hypothetical economic balance.