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Is this the decoy effect???? 5. Assuming the following vacuum cleaners were offered in the market: Vacuum Cleaner Model Power Price Standard 2 Horsepower $100
Is this the decoy effect????
5. Assuming the following vacuum cleaners were offered in the market: Vacuum Cleaner Model Power Price Standard 2 Horsepower $100 Premium 5 Horsepower $150 The manufacturer then decided to put a third product into the market, a Deluxe model with 4 Horsepower at $150. When introduced, Deluxe" didn't sell but demand shifted significantly from Standard to Premium model. Which of the following effect explains this? A. The Decoy Effect B. The Compromise Effect C. Relative Instead of Absolute D. Prospect TheoryStep by Step Solution
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