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When Texas Instruments (TI) introduced its pocket calculator it was a tremendous product innovation,and TI set the mail order price at $495.What is the name of the pricing strategy Texas Instruments used?
Buyers' Incomes
Refers to the total earnings of consumers, which directly affect their purchasing power and demand for goods and services.
Production Costs
Expenses incurred in the creation of a product or service, including raw materials, labor, and overhead costs.
Equilibrium Price
The equilibrium price in the market where the supply of goods matches the demand for goods.
Equilibrium Quantity
The quantity of goods or services supplied is exactly equal to the quantity demanded at the market price.
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