A restaurant:
A) is a price taker.
B) can set its own price.
C) will lose all of its customers if it raises its prices.
D) is described by both B and C.

Name: A restaurant: A) is a price taker. B) can set its own price. C) will lose all of its customers if it raises its prices. D) is described by both B and C.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Restaurants can set their own prices based on factors like their menu, location, and target market, distinguishing them from price takers who must accept market prices.

A Restaurant