Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 6 - Elasticity - Discussion Questions: 5

Answer

The answer is below.

Work Step by Step

The price as well as the goods offered vary from region to region, for companies know that expectations vary from place to place. For instance, in foreign countries, some fast food restaurants are much nicer than in the United States, which suggests that these companies believe that the United States has lower standards for the inside of fast food restaurants than other countries.
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