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According to the expectancy disconfirmation model, a product that is promoted as being better than it really is will create problems with customers even if its innate quality is already high. This is true, however, only if the expectation falls outside of the zone of .
Costume Jewelry
Jewelry made from inexpensive materials and imitation gems, designed to provide an attractive appearance at a lower cost than jewelry made from precious metals and stones.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service versus what they actually pay.
Equilibrium Price
The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.
Competitive Market
A market structure characterized by many buyers and sellers, free entry and exit, and a product for which each seller offers an essentially identical item.
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