Consumer Behavior Chapter 8 Consumer Behavior Sellers typically ask a higher price for an item than buyers are willing to pay. This is called a(n)

Sellers typically ask a higher price for an item than buyers are willing to pay. This is called a(n)

a. compensatory model.
b. noncompensatory model.
c. elimination by aspect model.
d. lexicographical model.
e. endowment effect.

Answer: E

Consumer Behavior