Marci,a student,is used to paying $1.25 for a 12-ounce can of Diet Coke from various vending machines on campus,so she expects the new vending machine just installed outside her Chemistry classroom to charge her the same amount for her favorite beverage.For Marci,the $1.25 price is a
A)reference price.
B)gross price.
C)bundle price.
D)leader price.
E)bait price.

Question

Quizplus · Accepted Answer

Consumers often have a reference price-that is,the price they expect to pay-for many of the products they purchase.

Marci,a Student,is Used to Paying $1