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Question
In the movie Legally Blonde, a sales associate at an exclusive boutique store attempts to convince the main character to pay full price for a dress that was on the clearance rack because the salesperson incorrectly believes that the buyer is uninformed about the quality of the product and has an inelastic demand (she has a function to attend that same evening). In this case, the salesperson is attempting to practice perfect
a. sales tactics.
b. competition.
c. product management.
d. price discrimination.
e. producer surplus.
Answer
This answer is hidden. It contains 77 characters.
Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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The economic entity most likely to engage in price gouging is
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What will an individual do differently as a buyer in the black market in the long run?
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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Q:
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