Stan Convinces Dorothy to Accept a Blind Date with His

question 14

Multiple Choice

Stan convinces Dorothy to accept a blind date with his great-looking and prosperous business partner, who does not really exist.On the day of the date, he tells Dorothy that his business partner is out of town, and sets her up with an obnoxious jerk, who is a client he's trying to impress.This is an example of the _____ strategy of persuasion.

• A)lowball
• B)high-balling
• C)bait-and-switch
• D)fish-or-cut-bait

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Definitions:

Demand Occurs

The moment at which consumers are willing and able to purchase a good or service at a given price.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms in the industry are earning only normal profits, with no incentive for entry or exit.

Inferior Good

A good or service whose consumption declines as income rises, prices held constant.

Constant Costs

Costs that remain unchanged regardless of the level of production or activity.