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Factory Outlets and Off-Price Chains Have Increasingly Located in "Off-Price

question 100

Essay

Factory outlets and off-price chains have increasingly located in "off-price malls." These malls are commonly owned and planned as a unit.Is an off-price mall a regional or a community shopping center? Explain your answer.


Definitions:

Price Sensitivity

The degree to which the demand for a product or service is affected by changes in its price, illustrating consumer response to price adjustments.

Consumer Surplus

The contrast between what buyers are willing to offer for a good or service and the amount they actually spend.

Willingness to Pay

The maximum amount an individual is prepared to expend on a good or service to acquire it.

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