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Explain Why Odd-Even Pricing May Be Successful

question 49

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Explain why odd-even pricing may be successful.


Definitions:

Response Bias

A wide range of cognitive biases that influence the responses of participants away from an accurate or truthful response.

Sensory Adaptation

The diminished sensitivity to a stimulus as a consequence of constant exposure to that stimulus.

Sensory Threshold

The minimum level of stimulus intensity required for a sensory system to detect a stimulus.

Sensory Deprivation

A condition in which one or more of the senses is diminished or eliminated.

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