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The price of computers has been dropping for the past ten years. If a desktop PC cost $5,700 ten years ago, and the same computing power cost $400 two years ago, find the rate of decrease per year. (Assume a straight-line model.) $__________
Tangible Goods
are physical items that can be seen, touched, and owned, such as electronics, clothing, and furniture, as opposed to services or digital goods.
Prepurchase Evaluations
The process by which consumers assess and consider various products, brands, or services before making a purchase decision.
Search Credence Properties
Attributes of a product or service that are difficult to evaluate even after purchase and consumption, often requiring expertise or significant experience to assess.
Experience Properties
Characteristics of products or services that cannot be easily assessed before purchase and are primarily evaluated through direct experience, such as taste, satisfaction, or efficiency.
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