how do restaurants calculate the prices of each dish? Do they accurately do it or just a rough estimate?
In: Economics
You estimate the costs, you do some market research to see what sells and what prices people buy at, you see how profitable it would be at each price and decide if you want to go for quality of quantity, and thats it; Sometimes you “normalize” prices. makign some things cheaper, even at a a lost, because they are covered by others that have a lower cost. Ice cream shops do this a lot (it allows you to have more flavors)
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