Asked by maysoon alharoon on Sep 24, 2024

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​Given that you observe nothing but the high price of the product,you are more likely to infer that

A) ​The product is low quality
B) The product is high quality
C) The product is the lowest quality possible
D) ​The product is defective

High Quality

The degree to which a product or service meets or exceeds customer expectations.

High Price

An amount that is considerably above the average or standard cost of an item or service.

  • Analyze how market power and competition influence decisions related to pricing.
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YZ
Yuxin Zhengabout 12 hours ago
Final Answer :
B
Explanation :
A high price often indicates that a product is of high quality, as companies are able to charge more for well-made or exclusive products. Therefore, it is more likely that the product is of high quality if the only observation is that it has a high price.