When retailers set prices on new models or styles of products, the price of existing models must often be _________.

Name: When retailers set prices on new models or styles of products, the price of existing models must often be _________.
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Question

Quizplus · Accepted Answer

When new models or styles are introduced, existing models become outdated and less desirable to consumers, resulting in a decrease in demand. To maintain sales, retailers often reduce the prices of these existing models, thus marking them down.

When Retailers Set Prices on New Models or Styles of Products