Gillian Bought One Set of Tools Because That Brand Offered

question 33

Multiple Choice

Gillian bought one set of tools because that brand offered a $10 rebate.The tool company influenced her decision by presenting the information about the rebates.This is a strategy
Known as

• A) restructuring.
• B) framing.
• C) the availability heuristic.
• D) the representativeness heuristic.

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Definitions:

Fizzle & Sizzle

An informal term indicating the contrasting outcomes of events or products; "fizzle" for failing and "sizzle" for succeeding amazingly.

Implicit Cost

The opportunity cost associated with a firm's use of resources that it already owns, representing the income the firm foregoes by using these resources in its current capacity.

Total Revenue

The total amount of money received by a company from sales of its products or services, before any expenses are subtracted.

Linear

Pertaining to a relationship or equation that can be graphically represented in a straight line, indicating a constant rate of change.