Final answer:
Aaron should advise Hannah to negotiate and look for promotions, wait for holiday sales for better discounts, and compare prices with other stores to ensure the best deal before buying furniture.
Step-by-step explanation:
When Aaron calls you for advice on getting a good deal before Hannah buys furniture, you have multiple options to consider. An economist might refer to getting a good deal as 'consumer surplus', which is the difference between what consumers are willing to pay for a good or service and what they actually pay. However, to advise Aaron and Hannah thoroughly, one could recommend:
- Negotiating the price and enquiring about ongoing promotions.
- Waiting for a holiday sale, when discounts are typically steeper.
- Comparing prices with other stores to ensure they are getting the best value for their money.
It's also useful to create a cost-benefit analysis, as suggested in the hypothetical chart, to decide whether the financial advantages of waiting for sales or promotions outweigh the benefit of immediate purchase.