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Suppose your supervisor says that your retail outlet should have a sale to increase the number of customers who will buy. She says that her mother could always count on increased traffic when she cut prices. If a 10% price cut does not bring in enough customers, then cut prices by 20%. Do you agree with this? Why or why not?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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