a. You lower your price, and at the same time, many of the local rivers are closed to fishing due to a drought or forest fires. b. You lower your price, and at the same time, a new movie about fly-fishing is released and draws record
Suppose you are a fly-fishing guide. Your bookings of late have been low, and you are thinking of lowering the
|
a. You lower your price, and at the same time, many of the local rivers are closed to fishing due to a drought or forest fires. |
|
b. You lower your price, and at the same time, a new movie about fly-fishing is released and draws record attendance at the theaters. |
a)in first case the demand would drop down considerably as river are down so people will not be fishing.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
