Some high-end retailers place their most expensive products right in the entryway of the store, where consumers will see them first, and place their more popular, better-selling items further back.

Which of the following would most likely be used by a behavioral economist as a justification for this strategy?

Consumers are motivated by a reference price only.

Consumers are motivated by the actual price level only.

A behavioral economist would disagree with the store's strategy.

Consumers are motivated by a comparison of the price level of a good to a reference price.

Some high-end retailers place their most expensive products right in the entryway of the store, where consumers will see them rst, and place their more popular, better-selling items further back. Which of the following would most likely be used by a behavioral economist as a justification for this strategy? \\ Consumers are motivated by a reference price only. \\ Consumers are motivated by the actual price level only. ' A behavioral economist would disagree with the store's strategy. ' Consumers are motivated by a comparison of the price level of a good to a reference price