Fine-Dining Restaurants Commonly Provide Statements in Their Menus Such As

question 62

Multiple Choice

Fine-dining restaurants commonly provide statements in their menus such as, "A 20% gratuity will be added to all checks for parties of six or more patrons." Given that this statement tends to raise the level of tips or gratuities left by other groups of diners, the statement is a good example of:

• A) the endowment effect.
• B) loss aversion.
• C) anchoring.
• D) none of the above

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The decision-making process regarding one's professional path or occupation, often based on interests, qualifications, and market demand.