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ziro4ka [17]
3 years ago
14

The reason why consumers typically ascribe (assign) higher value to goods (assets) than they are actually worth to products they

already own is called ______.
Business
1 answer:
Inessa05 [86]3 years ago
4 0

Answer:

Endowment effect

Explanation:

Endowment effect also referred to as divestiture aversion occurs where individual places or ascribes much higher value than market value on product they already have. where endowment effect is at play the owner of an asset will refuse to sell the asset owned at a the market price higher than the initial cost. and even not ready to buy same item at the market price when offered.

This surprising behavioural pattern was discovered by  a psychologist Richard Thaler in the 1970s  

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Answer:

It is considered as a problem child

Explanation:

Green Scene co. would be considered as a problem child, seen from the context of BCG matrix. Green Scene Co. being a struggling start-up company is in the need of large funds (Cash). The organic farmers use the pesticide of Green Scene Co., that is not harmful to environment. Not only the pesticide has great potential but is made from all the natural ingrdients.

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4 years ago
What is protectionism
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The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to cons
Svetllana [295]

Answer:

I believe that the demand equation is incomplete, since there is no price (P).

If we just solve this equation like it is, the quantity demanded = 80 - 12 = 68 gallons

if we add the price into the equation:

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4 0
3 years ago
What gives the tourists the advantage of being able to pay "2nd price" or even "3rd price" for their souvenirs, when the locals
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Answer:

There might be a passage attached but from a general perspective, tourists usually have an advantage in bargaining for souvenirs because they are the only market being sold to. Souvenirs are usually made exclusively for tourists which gives them bargaining power because if the tourists do not buy the goods, no one else will. The number of locals who will buy souvenirs from other locals is statistically insignificant because the locals make the souvenirs themselves.

When they go into the town or city of Angoram, you find that the shops there are selling to many more buyers and so the prices are set and cannot be bargained. This is why the locals cannot ask for 2nd or 3rd prices.

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If you receive 10 units of utility from consuming one cup of coffee and 16 units of utility from consuming two cups of coffee, w
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