Examlex
Which of the following factors is mainly responsible for a perceptual bias when interpreting the characteristics of a product?
Indifference Curve
A graphical representation showing combinations of two goods or services among which a consumer is indifferent, implying no preference for one combination over another.
T-Shirts
A type of clothing characterized by short sleeves, a round neckline, and no collar, typically made of cotton fabric.
Coffee
A beverage made from roasted and ground beans of the coffee plant, commonly consumed for its stimulating effects.
Substitution Effect
The economic principle that as the price of a good or service rises, consumers will replace it with cheaper alternatives.
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