Consider the Following Scenario: Many Students at Your School Purchase

Multiple Choice

Consider the following scenario: Many students at your school purchase a custom-made book bag. There are only 50 for sale and even priced at $100 they quickly sell out. Based on your understanding of loss aversion from Chapter 18, how much would another student need to offer for someone to sell a book bag he or she has previously purchased?

A) $50
B) $100
C) $200
D) $400