Question
As the owner of a lunch dinner you know that you sell on average 180 lunches daily. for an average price of RM 8.95. you
As the owner of a lunch dinner you know that you sell on average 180 lunches daily. for an average price of RM 8.95. you are considering raising prices so that the average lunch will run RM10.95 you know from previous industry analyses that when the average prices rm10.95, restaurants sell on average 144 lunches. Assuming that you respond like the industry, should you raise your prices? why or not why not?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Industrial Relations in Canada
Authors: Fiona McQuarrie
4th Edition
978-1-118-8783, 1118878396, 9781119050599 , 978-1118878392
