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A high-priced food store replaced a discount grocery in an urban neighborhood. Older residents could ...

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A high-priced food store replaced a discount grocery in an urban neighborhood. Older residents could ...

A high-priced food store replaced a discount grocery in an urban neighborhood. Older residents could not afford the higher prices, so the community organized a boycott. For months the new store was almost empty. Finally, management agreed to lower its prices, and shoppers returned. What is at work here?
A) oligopoly
B) monopolistic competition
C) buyer-seller irrationality
D) consumer sovereignty
E) economies of scale

Textbook

Business: A Practical Introduction

Edition: 1^st

Authors: Williams, Sawyer, Berston

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prodeco Author

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6 years ago

Good timing, thanks!

gma_of_7

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Thanks for your help!!

veronee_madison

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This site is awesome

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