Refer to the following graph to answer the next two questions. 540 530 $20 50 100 150 According to the accompanying graph, if the price is $20, there is a units. O a) surplus; 100 O b) shortage; 100 Oc) surplus; 50 O d) surplus; 150 e) shortage; 50

Refer to the following graph to answer the next two questions. 540 530 $20 50 100 150 According to the accompanying graph, if the price is $20, there is a units. O a) surplus; 100 O b) shortage; 100 Oc) surplus; 50 O d) surplus; 150 e) shortage; 50

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 18RQ: If the price is above line equilibrium level, would you predict a surplus or a shortage? If line...

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Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.

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