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People React Differently to a Five Cents a Gallon Higher

Question 43

Multiple Choice

People react differently to a five cents a gallon higher price for a credit card purchase than for a cash payment if it is framed as a cash discount rather than as a credit card surcharge. This shows they are subject to:


A) contrast effects
B) framing effects
C) confirmation bias
D) cash reversal bias
E) None of the above

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