× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
j
4
m
4
4
n
3
m
3
R
3
V
3
e
3
w
3
j
3
a
3
a
3
New Topic  
Satsume Satsume
wrote...
Posts: 761
Rep: 0 0
6 years ago
Fine-dining restaurants commonly provide statements in their menus such as, "A 20% gratuity will be added to all checks for parties of six or more patrons."  Given that this statement tends to raise the level of tips or gratuities left by other groups of diners, the statement is a good example of:
A) the endowment effect.
B) loss aversion.
C) anchoring.
D) none of the above
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
Read 102 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
C
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  968 People Browsing
Related Images
  
 266
  
 249
  
 268
Your Opinion
Who will win the 2024 president election?
Votes: 19
Closes: November 4