Explain Why When You First Enter a Newly Painted Room

question 95

Essay

Explain why when you first enter a newly painted room, the smell of paint seems very strong, but the longer you are there the less you smell the paint.

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Definitions:

Pricing

The process of determining the monetary value at which a good or service will be sold in the market.

Predatory Pricing

The practice of first setting prices low with the intention of pushing competitors out of the market or keeping new competitors from entering the market, and then raising prices to normal levels.

Lunch Special

A discounted or specially designed meal offered by restaurants during lunch hours to attract customers.

Markup Pricing

A pricing method in which a certain amount is added to the cost of the product, to set the final price; also called cost-plus pricing.