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Author Question: Which of the following is an example of anchoring in retail prices? A) Price tags on the ... (Read 58 times)

SGallaher96

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on: Jul 1, 2018
Which of the following is an example of anchoring in retail prices?
 
  A) Price tags on the merchandise list a high price that is charged at a competing retailer and the a much lower price that the store actually charges.
  B) An appliance store lists a commercial-quality coffee maker that has high capacity and is very expensive, and all of the other coffee makers are smaller and less expensive.
  C) Restaurant menus include a premium entree like a steak and lobster dinner that is very expensive, and all of the other entree choices are priced at lower values.
  D) all of the above

Question 2

Use the following two statements to answer this question: I. The price elasticity of demand is constant along the entire length of a linear demand curve. II.
 
  The price elasticity of demand is the special name that economists give to the slope of a demand curve. A) I and II are true.
  B) I is true, and II is false.
  C) I is false, and II is true.
  D) I and II are false.


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voltaire123

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


SGallaher96

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

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Reply 3 on: Yesterday
Gracias!

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