A bar owner must decide how best to raise revenues. A cover charge will allow him to offer cheaper drink prices. If the owner does decide to require a cover charge and offer cheaper drinks, how much should it be to avoid losing customers? Explain.

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The Answer of A bar owner must decide how best to raise revenues. A cover charge will allow him to offer cheaper drink prices. If the owner does decide to require a cover charge and offer cheaper drinks, how much should it be to avoid losing customers? Explain.

A Bar Owner Must Decide How Best to Raise Revenues