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levacccp [35]
3 years ago
8

A hardware store advertises a 3/8" Black and Decker Power Drill for $29.95. You enter the store intending to purchase the drill.

The salesperson informs you that they are all sold out. She tells you that the sale drills were factory seconds and that if you are going to be doing any kind of serious woodworking, you should buy the Model 3309, which sells for $49.99. This scenario has elements of which type of illegal pricing practice?
Business
1 answer:
umka2103 [35]3 years ago
3 0

This scenario has elements of Bait and switch pricing practice.

Explanation:

Bait and switch is a marketing trick that attracts customers to sell items that are not available for a similar pricing product at low prices. This is a method of retail sales fraud, although in other ways it takes place. Although many countries include laws against baiting and flipping, not all incidents are fraud.

Many activities are also common in bait and switch-like strategies:

  • Many unethical brokers in the real estate industry may sell a huge property at a price that is too good for prospective purchasers. The land affected is no longer accessible once it is on board.
  • In restaurants and supermarkets, nearly one-third of fish sold as one species (and thus priced) is also a kind of fish that is less expensive.
  • Hotels have low promotional prices to lure visitors that are eventually impacted by undisclosed resort fees or other unforeseen minimum transparency fees.
  • When trying to collect resumes, recruiters will post appealing and fake jobs.
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Answer:

A. The market clearing price of the tickets is more than $480.

Explanation:

Market-clearing price is a level where the quantity demanded of a product matches or the quantity supplied. At this price, A product or service does not experience any surplus or shortages.  It is the price where the demand curve and the supply curve intersect. The market-clearing price is the same as the equilibrium price.

As the price of $480, the demand for the show is at 6000, but supply is at 4000. There is a surplus in demand. The price of $480 is attractive to more people than supply can handle. Matching supply and demand would require the price to be set above the $480.

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What city on the kansas river is the capital of kansas
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Topeka

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Carla Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stoc
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On January 1, 2008, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.’s voting common stock which represents a 45% i
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The balance in the Investment in Lennon Co.account found in the financial records of Pacer as of December 31, 2008 was $2,071,500

Explanation:

In order to calcuate the balance in the Investment in Lennon Co.account found in the financial records of Pacer as of December 31, 2008 we would have to calculate the following formula:

Net balance=Investment made+share of net income-dividend

Investment made = $1,920,000

share of net income= $670,000*45%= $301,500

dividend= $2.5*60,000= $150,000

Therefore, Net balance= $1,920,000 + $301,500 - $150,000

Net balance= $2,071,500

The balance in the Investment in Lennon Co.account found in the financial records of Pacer as of December 31, 2008 was $2,071,500

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