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Imagine that you have just moved into a house with four other people.One of your housemates, Tony, doesn't seem to like you all that much.If you were to make use of the Ben Franklin effect, what can you do to increase Tony's liking for you?
Downsloping
Characteristic of a curve or line on a graph that shows a decrease in value as it moves from left to right, commonly used in economics to describe demand curves.
Market Demand
The aggregate amount of a product or service all buyers in a market are prepared to buy at different price points.
Competitive Industry
An industry structure where many firms compete for market share, with no single firm dominating the market.
Product Price
The amount of money charged for a single unit of a product, determined by various factors including production costs, demand, and competition.
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