Explain the concept of a reference price and how it relates, Business Economics

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Explain the concept of a reference price and how it relates

Explain the concept of a reference price and how it relates to the psychology of the consumer. Further, explain and discuss how firms can more easily integrate efficient economic pricing practices without facing a backlash from consumers. use theory and examples

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Business Economics: Explain the concept of a reference price and how it relates

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Business Economics: Explain the concept of a reference price and how it relates

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