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Two identical model cars are parked at the far end of the parking lot. You are able to determine that one of the cars is closer to you than the other because it appears to be slightly larger, even though you know the two cars are the same size. This is an example of which perceptual cue?
Market Price
The current price at which an asset or service can be bought or sold in a public marketplace.
Colluded
When two or more parties come together, often in secret, to limit open competition by deceiving or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair market advantage.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various price levels.
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