______ is common in retail goods for which consumers have an idea of what the price "should be" and have a "usual" price in mind for that item.

Name: ______ is common in retail goods for which consumers have an idea of what the price "should be" and have a "usual" price in mind for that item.
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Question

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Reference pricing is used when consumers have a specific price in mind for a product, against which they compare the actual price to determine if it represents a good value.

______ Is Common in Retail Goods for Which Consumers Have