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Mr Chan lives with his parents in Aberdeen. He owns a flat in causeway bay. The order of preference of ways for him to use his flats as follow 1st choice: run a restaurant. 2nd choice: rent it out. 3rd choice: live in it. Explain how the cost of using the flat to run the restaurant maybe affected if, a. The market rental rate sharply increases. b. His parents health deteriorates and there is an increasing need for him to take care of them. c. He has employed a cook at a salary lower than the market rate

Mr Chan lives with his parents in Aberdeen. He owns a flat in causeway bay. The order of preference of ways for him to use his flats as follow 1st choice: run a restaurant. 2nd choice: rent it out. 3rd choice: live in it. Explain how the cost of using the flat to run the restaurant maybe affected if, a. The market rental rate sharply increases. b. His parents health deteriorates and there is an increasing need for him to take care of them. c. He has employed a cook at a salary lower than the market rate

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Mr Chan lives with his parents in Aberdeen. He owns a flat in causeway bay. The order of preference of ways for him to use his flats as follow

1st choice: run a restaurant. 2nd choice: rent it out. 3rd choice: live in it. Explain how the cost of using the flat to run the restaurant maybe affected if, a. The market rental rate sharply increases. b. His parents health deteriorates and there is an increasing need for him to take care of them. c. He has employed a cook at a salary lower than the market rate

 

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