PTP #16

From Jaffe et al

True / False / Uncertain

An overnight hail storm seriously dented the cars on display at the new-car dealership. Customers were aware of the natural destruction. Therefore, fewer people shopped at the dealership until such time that it could obtain a fresh shipment of new cars.

Source: Sonia Jaffe, Robert Minton, Casey B. Mulligan, and Kevin M. Murphy, Chicago Price Theory (Princeton, NJ: Princeton University Press, 2019), p. 152.

Topics: consumer-choice , demand