The Internet Has Made It Possible to Compare Lots of Prices

question 65

Multiple Choice

The Internet has made it possible to compare lots of prices without incurring a lot of cost.This

• A) has given firms added market power to price discriminate.
• B) has significantly reduced search cost and made markets more competitive.
• C) has enabled firms to charge higher prices to consumers with computers.
• D) has only affected technology markets.

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Definitions:

Central Tendency Bias

A tendency to rate all individuals or situations as average or neutral, avoiding extreme judgments in assessments.

Rating Errors

Mistakes or biases that occur when evaluating or assessing an individual's performance or attributes.

Administrative Tasks

Routine duties related to the management and execution of office functions, including paperwork, scheduling, and record keeping.

Pay Raises

Incremental increases in an employee's salary or wages, typically awarded for performance, longevity, or cost of living adjustments.