Determining the price of products can be tricky, and many factors influence the decision.While the math can

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Determining the price of products can be tricky, and many factors influence the decision.While the math can show an ideal scenario, business owners must ultimately decide the prices of their items.Reply with your thoughts on the following questions:

A. What factors may influence a business owner's decision regarding the pricing of their items? Feel free to include real-world examples that you have experienced.

B. Why would Craig, the manager of the market in the video, decide to set the price of the soda at $3.40, instead of $3.50, which is the price that yields unit elasticity? Is it wrong for him to set the price at $3.40? What is acceptable?

Posted Date: Jun 21, 2024 11:12 PM

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