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We used a balanced, orthogonal fractional factorial design to construct 10 choice sets with three alternatives (power=80%, d-efficiency=90%)
Smoking causes heart disease, emphysema, acute myeloid leukemia, and cancer of the mouth, esophagus, larynx, lung, stomach, kidney, bladder and pancreas
Elastic demand matters greatly for businesses understanding which products fall into this category is critical for setting smart pricing strategy, anticipating customer reactions, and avoiding revenue drops when adjusting prices