The individual with the highest valuation of the good will win in which of the following auctions?

Using the aggregate supply and demand model, illustrate what happens in the long run when the economy suffers a supply shock. Begin your analysis by assuming the economy has suffered the supply shock in the short run, but has not yet adjusted to it in

the long run. What will be an ideal response?

Once a company knows that a customer is no longer profitable, which of the folloiwng are appropriate options?

a. Collaborate to reduce costs of service b. Raise prices c. Fire the customer d. Keep the status quo e. All of the above f. Only A, B, and C