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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

One prediction made in the chapter was that “the owner of a car repair shop in a small town will be more careful not to overcharge customers than the owner of a car repair shop in a large city.” Why?

To determine

Explain the reason why the owner of a car repair shop in a small town does not overcharge customers than the owner of a car repair shop in a large city.

Explanation

According to the prediction, the general conclusion is that people will have a higher ethical code toward the people whom they are dealing with. Since the small town exists with a small percentage of the population and large city exists with a high percentage of the population, the cost of living cond...

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