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Question: 1. How has the internet changed price competition for well-known, branded products?
2. Would the nature of price competition on the Internet be different if we had looked for commodities or esoteric luxury products?
3. Do you think this accessibility to detailed price comparisons has reduced price competition, such that all sellers price at the same level?
4. What assumptions do you tend to make about a product that seems priced very low? very high?
To study the effects of alcohol on decision making, a graduate student interviewed college students after they had left a campus bar. With a portable breathalyzer, he regist
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