Intermediate Microeconomics and Its Application 11th Edition by Walter Nicholson,Christopher Snyder

Exercise 1

Price data may have their own difficulties. Imagine trying to get price data on a new car model. How would you handle the fact that prices are usually set in customer-by-customer negotiations, usually below sticker price? How would you handle the fact that even for a given model there are numerous option packages available, which affect the car price?