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Could you type out the information? It is not legible in the photo. I can answer it for you then.
1. Typically you would have higher prices because if you don't have to compete with another person to sell more product you can have the price super high and as the only person selling you can sell for as much as you want
Answer:
Bounded rationality.
Explanation:
Tonya was feeling the effects of bounded rationality. According to Herbert Simon, people’s rationality is limited when making a decision. The rationality is limited by the information the person has, by the cognitive limitations and the time available to make the decision. In this case, if Tonya had been really rational she would have chosen the overseas company. However, she lacked information about shipment and that uncertainty led her to choose the domestic company instead, even if it had many disadvantages.
Marigold in Once upon a marigold
