(c) The price of widgets is $9. If the hardware store wants to increase its revenue, how should it change the price

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27-06-2022
Business

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(c) The price of widgets is $9. If the hardware store wants to increase its revenue, how should it change the price

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Baraq Baraq · Answer 1 · 2022-06-29T14:40:34+02:00

The hardware store would have to trade up certain goods to get an increase on its revenue. Hence, for the hardware store to change the price, trade up is the option. Read below about trade up.

What is trade up?

Trading up means adding a higher-priced, higher-quality version of a product to the range, generally to increase sales of the lower-priced model through consumer association of its image with the more prestigious model.

Therefore, the means by which the hardware store can change the price or increase its revenue is by trade up.

learn more about trade up: https://brainly.com/question/13760478

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