Unformatted text preview: Sounds rather vague I know. Well, when you are in the grocery store in the check out line staring at that Snickers bar at the candy counter, how much information do you gather when making the decision to buy or not? Not much right? Maybe just the growl in your stomach is all the information you need. What is the price of that candy bar? How much information do you gather about a particular motor vehicle before you purchase it? What is the price of a motor vehicle these days? How much information do you gather about a house before you buy it? Do you agonize over such a large purchase? Do you wonder if you are doing the right thing (second guessing yourself)? As the commodity’s price increases, the value of obtaining information about the commodity before transacting any business increases as well....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10