While shopping, Chloe sees a pair of jeans on sale for $29.99. She is excited because she has purchased this particular brand of jeans several times in the past for $40.00. In this instance, $40.00 is Chloe's reference price.
Answer the following statement true (T) or false (F)
True
A reference price is the price that a consumer considers reasonable and fair for a product. For Chloe, $40.00 is the reference price on the jeans, since she purchased several pairs at this price in the past.
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____ is often displayed through nonverbal cues such as nodding or cocking of the head to one side or the other, smiling, or using paralanguage.
A. Impatience B. Attentiveness C. Objectivity D. Bias
A truck owned and operated by Roadhog Company was involved in an accident with an auto driven by M. Sore on January 12, 2014 . Roadhog received notice on April 24, 2014, of a lawsuit for $750,000 damages for a personal injury suffered by M. Sore. Roadhog's counsel believes it is reasonably possible that M. Sore will be successful against the company for an estimated amount in the range between
$200,000 and $500,000 . No amount within this range is a better estimate of potential damages than any other amount. It is expected that the lawsuit will be adjudicated in the latter part of 2015 . What amount of loss should Roadhog accrue at December 31 . 2014? a. $400,000 b. $250,000 c. $100,000 d. $0
When companies develop a reputation for environmental excellence, and they produce and deliver products and services designed to attract environmentally aware customers, this is called:
A. Brand differentiation. B. Cost savings. C. Strategic planning. D. Technological innovation.
Dinham Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During March, the kennel budgeted for 2,000 tenant-days, but its actual level of activity was 2,040 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for March:Data used in budgeting: Fixed element per month Variable element per tenant-dayRevenue - $35.40Wages and salaries$3,000 $6.60Food and supplies 400 12.20Facility expenses 9,600 2.30Administrative expenses 7,800 0.20Total expenses$20,800 $21.30?Actual results for March: Revenue$69,576 Wages and salaries$16,204 Food and supplies$25,008 Facility expenses$14,122 Administrative expenses$8,238 ?The
spending variance for food and supplies in March would be closest to: A. $208 F B. $280 F C. $280 U D. $208 U