1. Why may a restaurant charge very high prices for wine and bottled water and yet quite...
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1. Why may a restaurant charge very high prices for wine and bottled water and yet quite reasonable prices for food?
2. Why are clothes with designer labels so much more expensive than ‘own brand’ clothes from a chain store, even though they may cost a similar amount to produce?
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1 Because the demand for food is relatively elastic people may well comp...View the full answer
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