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The advertisement for a pool reads "a vinyl pool from Parker's for just $5,000." When David contacted the firm for the pool, the customer service representative tells David that the total cost will be $8,000. When David enquires about the extra $3,000, the customer service representative says that is for installation. Which service-quality gap does this situation demonstrate?
Market Price
The present cost at which a service or asset is available for purchase or sale in a specific market.
Decreasing-Cost Industry
An industry where production costs decrease as the industry grows, often due to economies of scale.
Long-Run Equilibrium
A state in which all factors of production and costs are variable, allowing firms to make adjustments such that supply equals demand, and no economic profits are earned.
Increased Demand
A situation where the desire or need for a product or service grows, often leading to higher sales or consumption.
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