A review of Kappo Masa, a popular restaurant in New York City, notes, The markup that New

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A review of Kappo Masa, a popular restaurant in New York City, notes, "The markup that New York restaurants customarily add to retail wine and sake prices is about 150 percent. The average markup at Kappo Masa is 200 percent to 300 percent." Even 150 percent is a much larger markup than the markups restaurants use to price the meals they serve. Why do restaurants use a higher markup for wine than for food, and why might a popular restaurant mark up the price of wine more than an average restaurant does?
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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