Inconsistent Pricing: Distorting Consumption
For as long as we remember, certain prices we see do not reflect the true value we have to pay. Have you had extra charges added to your mobile phone bill? Have you received a food bill which does not match the menu prices when dining at restaurants? These prices you pay deserve more attention as they distort a consumer’s personal budgeting. Basically, advertisement of prices are misleading and usually include vague surcharges. The history and nature of these hidden costs has had an arguably significant impact on consumption patterns but is little-known to most consumers.
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