When the price goes up, the quantity demanded goes down and the quantity supplied goes up. What
Fantastic news! We've Found the answer you've been seeking!
Question:
When the price goes up, the quantity demanded goes down and the quantity supplied goes up. What happens when companies set the wrong price? Listen to this story about Chuck E Cheese's
(http://freakonomics.com/podcast/chuck-e-cheeses-kid-can-learn-price-theory/) , then answer the following questions.
1.What's the danger of setting a price too high?What's the danger of setting a price too low?
2.How did Chuck E Cheese's single price policy contribute to the problem?
Related Book For
Posted Date: