Cindys actions a cross shopping b the income effect c

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Cindy's actions? A. Cross- shopping B. The income effect C. Cross-price elasticity D. The substitution effect E. Specialty shopping Cross-shopping is the pattern of buying both premium and low-priced merchandise or patronizing both expensive, status-oriented retailers and price-oriented retailers. AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 13-05 Indicate the four types of competition. Topic: Macro Influences on Pricing 129. (p. 280) Thanh owns a shoe store. In this market, there are many firms competing for the same customers, but the products offered differ by quality and price. Out of the four levels of competition, which one does this market represent?
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Monopolistic competition occurs when there are many firms competing for customers in a given market but their products are differentiated. AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 13-05 Indicate the four types of competition. Topic: 5 Cs of Pricing 130. (p. 279) In which of the following levels of competition does one firm control the industry and restrict competition? In a monopoly, one firm provides the product or service in a particular industry, which restricts competition. AACSB: Analytic Blooms: Understand Difficulty: 2 Medium Learning Objective: 13-05 Indicate the four types of competition. Topic: Macro Influences on Pricing 131. (p. 280) Winston's Ice Cream Shop has been in the same location for two decades. Last week, a new ice cream shop opened up just one block down the street. Winston's decides to sell ice cream below cost in order to drive the new shop out of business. What kind of pricing is Winston's using?
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132. (p. 275) A major hotel chain found that if they were to reduce the cost of the ice cream they currently served they would be able to save over 400 employees jobs. Therefore, they switched from a high priced brand of ice cream to a more moderate
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