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A Company Decided to Conduct a Market Survey for Its

question 47

Multiple Choice

A company decided to conduct a market survey for its new MP3 player which it had priced at $150. However, in the survey, 95 percent of the participants said that the maximum they would pay for the MP3 player is $100. This is an example of which of the following possible consumer reference prices?


Definitions:

Civil Rights Act

A landmark piece of federal legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin.

Employment Discrimination

Unfair treatment of employees based on race, gender, age, religion, or other protected characteristics.

Taft-Hartley Act

Federal legislation designed to curtail some of the powers that unions had acquired under the Wagner Act; designates certain union actions as unfair. Also called Labor-Management Relations Act.

Wagner Act

The first major piece of federal legislation adopted explicitly to encourage the formation of labor unions and provide for collective bargaining between employers and unions as a means of obtaining the peaceful settlement of labor disputes.

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