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How restaurants charge more but make you feel like you’re getting a bargain

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Restaurants are raising menu prices as wages grow and inflation hits ingredients and packaging. But they still want customers to feel like they’re getting a good deal.

Click here to read the story at cnn.com.

Discussion Questions:

  1. What is price?
  2. What factors influence price?
  3. What is the difference between fixed and variable costs?
  4. What are some examples fixed costs that a restaurant might incur?
  5. What are some examples variable costs that a restaurant might incur?
  6. What is inflation?
  7. Why are restaurants raising menu prices?
  8. Why do they want customers to feel like they are getting a good deal?
  9. What is value?
  10. What is the difference between price and value?
  11. Based on information from this story, how are restaurants raising prices but positioning the menu as a good value?
Chris Lindauer
After working for nearly a decade in professional sports, Chris Lindauer, formed Sports Career Consulting to provide unique sports business education opportunities in and out of the classroom. In the eighteen years (and counting) that followed, Chris has inspired thousands of students to pursue their passions and explore the career of their dreams. He currently lives in Portland, Oregon with his wife, two teenage daughters and their dog.

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