When Abe goes shopping, he comes across a T-shirt that is priced at $35. Although he wants to buy it, judging from the material used, he feels that the T-shirt should only cost $20. What reference price is Abe using here?

What will be an ideal response?

Abe perceives $20 to be the "fair price" for the product.

Business

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A landlord's obligation to put a building intended for human habitation in a condition that is fit for occupancy is referred to as:

A. fulfilling the beneficial habitation laws B. an implied warranty of habitability C. fulfilling occupancy standards D. a warranty of occupancy

Business

A five-foot high cardboard display of Terry the polar bear, mascot of Terry's protein shake, next to the shelf containing Terry's products in a supermarket is an example of a(n) ________

A) sample B) point-of-purchase promotion C) business promotion D) advertising specialty E) rebate

Business