You provide what you like like and santa brings it to north pole and see what is best for you
Brenda sees a television advertised around $500. when she finally buys one for $450, she feels she got a good deal. in this case, the $500 price acted as an anchor.
A cognitive bias known as the anchoring effect describes a common human tendency to excessively rely on the initial piece of information proposed when making a decision.
Anchoring occurs when people base subsequent judgments on an earlier piece of information during decision-making. Once an anchor is established, subsequent decisions are made by moving away from it, and there is a bias toward framing subsequent data in relation to the anchor.
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Answer:
"$25" i.e., Option c (Just above $15) is the correct answer.
Explanation:
English auctions vary from certain auctions seeing as how the auctioneer proceeds to bid at both the cheapest price appropriate to the seller and therefore only allows buyers should bid larger than the corresponding highest bidder. Increasing bidder seems to have an ability to look at other offers and amend his rather than her bid.
- For both the highest bidder, the competition ends with either the product being offered to the very last bidder. The winner simply spends a marginally higher amount now than the 2nd greatest bidder's valuation.
- An English auction is organized by Katy. She would hope to be allowed to make $25 from the auction whether she calculates her bidders' prices would be $2, $4, $10, $15 as well as $25 since this represents the highest price.
Some other options offered really aren't relevant to either the situation described. So, the solution is indeed the right one.
The United States is said to have a mixed economy because privately owned businesses and government both play important roles. ... The American free enterprise system emphasizes private ownership.
Which is to <span>Identify the target audience.
Target audience refers to the group of people that certain advertisers or publications intended to reach.
By knowing the target audience, they could create marketing campaigns that would be appealing for that specific group alone maximize their result.</span>
