Definition: You are given a conversation between two people. 'Person1:' and 'Person2:' are used to separate their respective dialogues. You are required to assign a label 'formal' if there is an absence of emotion and a presence of questions anywhere within the conversation. If such pattern is not found assign the label 'informal'.
Input:  Person1:       Peter , I hope you will accept my quotation for the air freshener .  
 Person2:I wish I could place a monthly order for a minimum of 50 cases , introducing your goods to my customers , but your price , $ 100 for a case , is too high in this highly competitive market .  
 Person1:        I have cut the price the minimum . You know our freshener is a patent product , different from other kinds of fresheners . We could not have quitted it at such a low price if it were not for your past large orders . This price , actually , leaves us with a very small profit .  
 Person2:People here desire medium-priced air freshener only . Please carefully consider my proposal , which will lead to a larger business between us .  
 Person1:        The low price I'm offering you is as low as I can go .  
 Person2:Then , I am sorry to say I must regretfully decline your offer and seek quotations for the other suppliers .  
 Person1:        I'm sorry , Peter . I hope you'll continue to approach us on other occasions if you cannot accept our offer now .  
 Person2:Yes . I'll welcome other opportunities to do business with you . 

informal