The just noticeable difference in a price is the amount of price increase that can be taken without affecting customer demand.

Question

Quizplus · Accepted Answer

The just noticeable difference (JND) in a price refers to the smallest amount of price change that a consumer can notice. It is also known as the "threshold of perception." It is the price increase that can be taken without affecting customer demand, as customers may not notice the increase. Therefore, the statement is true.

The Just Noticeable Difference in a Price Is the Amount