Which of the Following Observations Concerning Reference Prices Is True

question 202

Multiple Choice

Which of the following observations concerning reference prices is true?

• A)The reference price is the company's cost to produce the product.
• B)Reference prices are set by regulators.
• C)Demand may increase if a firm's price is lower than a customer's reference price.
• D)All customers have the same reference prices for the same basic type of purchase.

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