¶ … Mankiw's Principles Of Economics
When consumers elect to invest in discount offers by merchants, they are faced with a number of variables that will affect the value they perceive from the discount offered compared to the amount of money and time that will be required to secure it. To the extent that this cost-benefit analysis results in a perceived positive return on their investment will likely be the extent to which consumers are more likely to invest in discount offers. To gain some fresh insights into this tendency, this paper provides a review of the literature concerning Mankiw's first four principles of economics as they apply to a vignette involving consumers spending more than they planned to obtain a discount card that will only provide them with discounts in the future. A description of some salient examples and evidence in support of the rationale involved in this decision-making process is followed by a summary of the research and important findings concerning Mankiw's ten principles of economics in the conclusion.
Rational Decision-Making Using Mankiw's Ten Principles of Economics
According to Mankiw's...
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