A small nation of ten people enjoy music and singing. All they produce and consume are karaoke machines and CDs, in the amounts shown in the table below: Karaoke Machines CDs Year Price ($) Quantity (kg) Price ($) Quantity (liter) 2016* 40 10 8 30 2017 60 12 10 50 * Assume 2016 is the base year. Fix the Basket to 4 Karaoke Machines and 3 CDs. a. Calculate the Cost of the Basket for two years.

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Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.