You Own a Store and Have Not Raised Prices Recently-And

question 75

Multiple Choice

You own a store and have not raised prices recently-and now your store has more customers.Which statement is correct?

• A) This can be troublesome because you face a "menu costs" problem because you must not have increased prices fast enough.
• B) This can be troublesome because you face a price confusion problem: You don't know if the extra business means that you should open another store, or if the crowds are a result of inflation, which has caused all consumers to buy at a faster rate.
• C) This can be troublesome because you face a future price uncertainty problem because you don't know how much to increase your prices now or in the future.
• D) It can't be troublesome; it can only be good.
• E) This can be troublesome because too many customers generate deflationary pressures for all businesses.

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Definitions:

Statute Of Frauds

A rule of law that mandates specific kinds of agreements must be documented and signed to have legal force.

Oral Agreement

A verbal contract between parties where terms are agreed upon through spoken communication rather than in writing.

UCC

The Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions in the United States.

Missing Price

A situation where the cost or value of an item is not listed or known.