12.4 Bargaining
Most consumer items are sold in posted price markets. Customers go to a supermarket or a department store, check out the posted prices, and decide what to buy. Rarely do customers in a supermarket bargain over the price of milk or bid on milk in an auction. However, in other markets, bargaining and auctions are used.15
Bargaining is common between a manager and employees over wages and working conditions. When workers are represented ...
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