A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why?

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A: Incentive induces a person to act and react.

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A: Price sensitive refers to the situation where the changes in price leads to affect the quantity of…

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A: When two goods are complementary goods, they are consumed together by the people.

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Q: What Is Price Analysis?

A: Price Analysis refers to the analysis of response of consumer to the theoretical prices in research…