question archive The Lunchbox is one of many options for workers in Lanford, IL to get a quick and tasty meal at reasonable prices
The Lunchbox is one of many options for workers in Lanford, IL to get a quick and tasty meal at reasonable prices
Subject:EconomicsPrice:2.88 Bought20
The Lunchbox is one of many options for workers in Lanford, IL to get a quick and tasty meal at reasonable prices. They wanted to raise prices but did not know if the demand would fall off too much. They decided to raise prices and wait and see before making the increases permanent. In the first week after they raised prices on the menu an average of 10%, they served fewer lunches but their revenue did not fall. Based on this, they decided to keep the new menu. Would you expect revenue to continue at this level?
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