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Kisachek [45]
3 years ago
11

Behavioral economists attribute some consumer behavior to the endowment effect. Which of the following is an example of the endo

wment​ effect? An example of the endowment effect isA. Being unwilling to sell a vase for a price that is greater than the price you would be willing to pay to buy the vase if you​ didn't already own it.B. Being unwilling to sell a painting that you already own.C. Being willing to will your descendents a car upon your death that you otherwise could have sold for a substantial price.D. Buying lottery tickets with an expected value that is less than their price.E. Taking into account nonmonetary opportunity costs such as the value of your time.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
3 0

Answer:

B. Being unwilling to sell a painting that you already own

Explanation:

Endowment effect is when individuals value things they own more highly than things they don't own. The endowment effect postulates that individuals are unwilling to exchange things they own for something else of equal value.

The amount people would be willing to accept in exchange for the good they own is usually very high compared to the true value of the object they own.

I hope my answer helps you.

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Which of the following combinations should be avoided? a. high price and high quality b. low price and low quality c. heavy prom
NNADVOKAT [17]

Answer: heavy promotion and low (exclusive) availability

Explanation:

The wrong combination is high promotion and low availability, because when a product is highly promoted it would lead to high interest in that product from the consumers, this would lead to a high demand for that product from customers. And this high demand needs to be met with high supply, which is not the case here, therefore scarcity would set in.

4 0
3 years ago
comparatively new field of research international entrepreneurship was developed as a result of what is known as the
Yuliya22 [10]

Comparatively new field of research international entrepreneurship was developed as a result of what is known as the Born global.

"Entrepreneurial start-ups that, from or around their establishment, intend to derive a large proportion of their revenue from the selling of products in international markets" are referred to as "Born Global (BGs)."

Born worldwide enterprises, a growing business phenomenon that is also progressively gaining traction in Latin America and the Caribbean.

This study argues that developing complicated international resource configurations can help businesses gain competitive advantage in addition to making early sales in foreign markets.

Learn more about Born Global here brainly.com/question/13607468

#SPJ4

3 0
2 years ago
Gerald just received a 2% raise from his employer. However, the rate of inflation last year
liberstina [14]

Th increase in Gerald's income is a problem because the percentage increase in his income is lower than the increase in inflation. This means that the purchasing power in Gerald's income is lower.

Inflation is when the general price levels in an economy rises. Inflation reduces the purchasing power of money. The inflation rate in the US in 2020 was 1.2%.

Let us assume that Gerald's income is $1000.

After the raise, his income becomes: (1.02 x 1000) = $1020

As a result of the inflation, the increase in income needed to keep purchasing power constant is: (1.03 x $1000) = $1030.

The increase in Gerald's income is less than the inflation rate. This means that the purchasing power of Gerald would be lower.

To learn more about inflation, please check: brainly.com/question/19170370?referrer=searchResults

6 0
3 years ago
Read 2 more answers
You can buy property today for $2.2 million and sell it in 5 years for $3.2 million. (You earn no rental income on the property.
Stolb23 [73]

Answer:

PV of the sales price  $1,986,948.23

 

Explanation:

We will calcualte the present value of the sale price using the present value of a lump sum formula:

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity 3,200,000

time                         5 years

rate         10% = 10/100 = 0.1

\frac{3200000}{(1 + 0.1)^{5} } = PV  

PV        $1,986,948.2338  

This indicates the 3,200,000 in five years are equivalent to 1,986,948.23 dollars Thus, this investment is not profitable as the property will be purchased at 2,200,000

7 0
3 years ago
What is the definition of the product/service bundle?.
Bond [772]

Answer:

In marketing, product bundling is offering several products or services for sale as one combined product or service package.

Explanation:

7 0
2 years ago
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