If the customer moves first with a high price what is the best response of the shopkeeper
a. Accept the high price happily
b. Walk away from the deal
c. Throw the haggling customer out of your store
d. Laugh at the customer's face
a
You might also like to view...
Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico which subsequently drove up natural gas, gasoline, and heating oil prices
Three years later, once the refining capacity was restored, these prices came back down. The restoration of refining capacity should A) move the economy up along a stationary short-run aggregate supply curve. B) move the economy down along a stationary short-run aggregate supply curve. C) shift the short-run aggregate supply curve to the left. D) shift the short-run aggregate supply curve to the right.
According to the interest rate effect, as the price level:
a. rises, people feel poorer and buy less. b. rises, United States products become more expensive and foreigners buy less U.S. goods. c. rises, interest rates fall, and people buy less. d. rises, interest rates rise, and people buy less. e. falls, interest rates fall, and people buy less.