(Answered) Assume that you own a car wash and your price is 5 per wash

Management Studies

Assume that you own a car wash and your price is $5 per wash. If you increase the price to $7 per wash in December, how likely are you to generate higher revenue if you keep this price during the winter and the summer time? What factors that you need to keep in mind before making such decision, especially if you learn that income level has not changed but the price of cars (actual price and financing interest rates) is expected to rise? Justify your answers.

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