Real Life Application

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The current discussion have a huge application to the class and the world.

The idea of

convenience is discussed. It was found that people prefer to pay more for a product that is

located near them. Thus, the extract amount is the equal to the cost of going to look for the

product in a cheaper location. For more people who buy at those shops they prefer the

convenience rather than high cost charged by the shops. The business seem are ripping of the

consumers but they will prefer to pay more the convenience. Application of the chapter to the

world is it recommendation to balance of un-skilled and skilled workers.

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