A Consumer Has a Reservation Price of $90 for a Blender.If

question 87

Multiple Choice

A consumer has a reservation price of $90 for a blender.If the local store is offering the blender for $100 with a $10 rebate and he does not make the purchase,one can surmise that:

• A)his reservation price was too high.
• B)his reservation price was too low.
• C)the hurdle was too high.
• D)the hurdle was too low.

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Definitions:

Gross Amount

The total of all amounts before any deductions are made, such as taxes or discounts.

Retailer

A business that sells goods directly to consumers, typically operating out of physical stores or online platforms.

Note Receivable

An asset account on a company's balance sheet representing a promise by a debtor to pay a certain amount of money to the company in the future.

Written Promise

A formal pledge, often in the form of a document, affirming that one party agrees to perform or refrain from a specific action.