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Karo-lina-s [1.5K]
3 years ago
7

The owner of an Italian restaurant has just been notified by her landlord that the monthly lease on the building in which the re

staurant operates will increase by 20% at the beginning of the year. Her current prices are competitive with nearby restaurants of similar quality. However, she is now considering raising her prices by 20 percent to offset the increase in her monthly rent. Would you recommend that she raise prices?
Business
1 answer:
Irina18 [472]3 years ago
7 0

Answer:

No

Explanation:

In a competitive market, price should be a function of variable/marginal costs not fixed costs.

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