Final answer:
If the input is 30 in the provided algorithm, the expected output would tell the consumer to 'wait for a better sale' because the discount does not exceed the 50-point threshold for a 'great deal!'.
Step-by-step explanation:
The algorithm described in the student's question compares a given input (in this case, the number 30) to a threshold value (in this case, a threshold for what is considered a 'good deal' on a product). An economist might describe obtaining a good deal as a situation where the shopper gains from consumer surplus, the difference between what consumers are willing to pay for a good or service versus what they actually pay. In practice, a good deal indicates that the price is sufficiently below the consumer's maximum willingness to pay, generating perceived value.
Since the question indicates that the 'great deal!' message appears if the discount is greater than 50, and the given input is 30, this implies that the discount is less than the threshold required for a 'great deal'. Therefore, the expected output for a discount of 30 is 'wait for a better sale'.
This simplistic algorithm serves as a guideline for consumers to assess roughly whether they are getting a significant saving or not. Much like the approximation that √10 is roughly equal to 3, such guidelines aid in making quick, reasonable decisions without requiring precise calculations for every situation.