Which do you think would have the bigger impact on consumers' willingness and ability to buy the

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Which do you think would have the bigger impact on consumers' willingness and ability to buy the following products? Why? (Explain your reasoning,)

1. A 10% increase in the price of bottled water from $2.00 per bottle to $2.20 per bottle.

2. A 10% increase in the price of an economy-sized car from $10,000 to $11,000.

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Economics Course Book 2020

ISBN: 9781382004961

2020 Edition

Authors: Jocelyn Blink, Ian Dorton

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Question Posted: Feb 17, 2024 02:00 AM

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Which do you think would have the bigger impact on consumers' willingness and ability to buy the

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Both the percentage increase and the initial price of the product play important roles in determining consumers willingness and ability to make purcha...View the full answer

Economics Course Book 2020

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