Miranda Received a Phone Call from a Telemarketer for a Local

question 101

Multiple Choice

Miranda received a phone call from a telemarketer for a local charity. The telemarketer asked for a $1000 donation. When Miranda refused, the telemarketer then asked for $25, to which Miranda agreed. This is an example of the ________.

• A)foot-in-the-door technique
• B)door-in-the-face technique
• C)low-ball technique
• D)bait-and-switch technique

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Definitions:

Monopolistic Distributor

A single seller or distributor in a market that controls a large portion of the market share, limiting competition.

Monopolistic Producer

A market situation where a single producer controls the majority of the market for a particular good or service, restricting competition.

Marginal Cost

The financial implication of manufacturing an additional unit of a product or service.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers in a given time period.