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While shopping at Publix, Julia saw that a pound of high-quality Colombian coffee had a label on it that claimed the usual price of the

While shopping at Publix, Julia saw that a pound of high-quality Colombian coffee had a label on it that claimed the usual price of the bag was $20 but it was currently on sale for $15. Julia decided to buy a bag of the coffee since she felt that she was getting a good deal. This example illustrates

a. an internal reference price

b. an external reference price

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