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L&M Corporation changes the way it markets its products.It also makes changes in the designs of its store layouts citing generational differences as the reason.L&M Corporation is responding to:
WARP
Weak Axiom of Revealed Preference, a theory in economics that assumes if a consumer prefers product A over B when both are available, then they will not choose B when A is available.
Bundle
An assortment of items or services combined and offered for sale as a complete set.
Laspeyres Price Index
A measure of inflation computed by taking the ratio of the total cost of purchasing a specified basket of goods at current prices to the cost of those same goods at base-year prices.
Base Year
A base year is a specific year against which economic or financial data are measured and compared. It often serves as a reference point for calculating indexes and growth rates.
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