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The difference in size-labeling system and the reason behind the difference. Does the lack of uniform sizing mean customers are being deceived?
Concept introduction:
The willingness of a consumer to buy a commodity or a service backed with his
Supply:
A particular amount of product available in the market at a particular price is known as supply.
Explanation:
If dress sizes available today are compared with those available in the 1950s, then there is a change in clothing size for the same label. This change is because of change in the taste of consumers, as earlier people use to put on loose clothes, but in recent times people love to wear more fitted and stretchable clothes.
So garment manufacturers need to respond to the changing tastes of consumers and so blaming them for responding to demand would not be construed as fair. Giving consumers what they want cannot be termed as consumer deception.
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Chapter 7 Solutions
Economics of Public Issues (20th Edition) (The Pearson Series in Economics)
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