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07-10-2022
Business

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the price a firm charges for a good or service is typically less than the value placed on that good or service by the customer. this is because the customer captures some of that value in the form of a consumer surplus. marketers implement psychological pricing tactics to ensure that customers perceive the prices to be low. regulatory mechanisms ensure that the customer is not overcharged for products/services. the customer’s disposable income is significantly higher than what the market demands.

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