Terry wants to sell his car and the lowest price he is


Terry wants to sell his car and the lowest price he is willing to accept is $3,000. Alice likes the car and is willing to pay at most $4,000 for it. They begin to negotiate to arrive at a price. Which of the following statements will be true?

1. They are playing a zero-sum game.    

2. They are playing a positive-sum game where their benefits add up to $1,000.                

3. The higher the price they agree on, the greater the benefit to both.

4. The longer they take to arrive at an agreed price, the lower the benefit to them.         

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Microeconomics: Terry wants to sell his car and the lowest price he is
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