The souvenir shop next to Wrigley Field in Chicago sells sports banners for $5 each. The owner
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The souvenir shop next to Wrigley Field in Chicago sells sports banners for $5 each. The owner pays $1,000 monthly rent. Two blocks away from the baseball stadium, a souvenir shop sells the same banners for $3 each. The owner there pays $600 rent. Is the price of the banner at the shop next to the stadium high because rent is high or is rent high because the price is high?
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Use the reasoning associated with location rent Rent next to the stadium is h...View the full answer
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