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People Had Been Expecting the Price Level to Be 120

question 5

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People had been expecting the price level to be 120 but it turns out to be 122.In response Robinson Tire Company increases the number of workers it employs.What could explain this?


Definitions:

Coronation

A ceremonial event that marks the formal investiture of a monarch or a sovereign with regal power.

Contracted

Entered into a formal and legally binding agreement between two or more parties outlining specific obligations.

Anticipatory Repudiation

A declaration by one party to a contract of their intention not to perform their future obligations as agreed, allowing the other party to treat the contract as breached and seek remedies.

Mutual Agreement

A mutual agreement is an understanding or arrangement made between two or more parties, usually detailed in a formal contract.

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