You Are Considering Purchasing a New Automobile That Will Cost

question 19

Multiple Choice

You are considering purchasing a new automobile that will cost you $28,000.The dealer offers you 4.9% APR financing for 60 months (with payments made at the end of the month) .Assuming you finance the entire $28,000 and finance through the dealer,your monthly payments will be closest to:

• A)$1454.
• B)$527.
• C)$467.
• D)$457.

Acknowledge the necessity of prior contact with the buyer in problem-solution methods.

Realize the significance of preparation in strong negotiation.

Comprehend the existence and importance of decision-making criteria in purchasing.

Understand the principle of seeking win-win situations in selling and negotiating.

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Definitions:

Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Income Elasticity

A measure of how much the demand for a product changes with a change in consumers' income.

Quantity Supplied

the amount of a good or service that producers are willing and able to sell at a given price.

Elastic

Describes a situation where a change in one factor (such as price) leads to a relatively larger change in another factor (such as quantity demanded or supplied).