In Behavioral Economics,salience Is Best Exemplified by

question 118

Multiple Choice

In behavioral economics,salience is best exemplified by

• A) consumers responding differently when posted prices increase rather than when prices increase because of sales tax increases.
• B) consumers responding the same regardless of how prices change.
• C) the end of a controlled experiment.
• D) consumers responding differently when income increases permanently rather than temporarily.

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Definitions:

Code of Ethics

A set of principles designed to guide the behavior and decision-making of members within an organization or profession.

Utilitarian Benefits

The practical or useful advantages gained from a product, service, or action, focusing on its functionality or utility.

Consumer Protection Agency

Governmental organizations designed to uphold the rights of consumers and ensure fair trade, competition, and accurate information in the marketplace.

General Ethical Principles

Fundamental guidelines that govern behaviors and decision-making based on moral considerations.