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A Serial Consumer

| Learning | July 16, 2014

(In economics class, the instructor is talking about consumer demand.)

Instructor: “You guys do this when you go shopping. You buy more when something’s on sale, and you buy less or none at all when the price is high. For example, I love Cinnamon Toast Crunch. When it’s the regular price, I won’t buy it. When it’s on sale, I have twelve boxes of it in my cart.”

(The class laughs.)

Instructor: “I’m serious.”

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