Ch. 11.2

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Pricing products in a way that intentionally misleads customers.

Maximum price set by the government for certain goods and services that it thinks are priced too high.

Practice of advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store.

Setting very low prices to remove the competition.

Pricing an item much lower than the current market price of the cost of acquiring the product.

Amount added to the cost of a product to determine the selling price.

Amount of money requested or exchanged for a product.

Point at which revenue from sales equals the costs.