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Suppose you own a small business (e.g., a dry cleaner, local caf, housekeeping services), and there is a noticeable cost increase from a supplier, such as higher delivery costs due to an increase in fuel. What pricing decision(s) would you make?

1. Suppose you own a small business (e.g., a dry cleaner, local caf, housekeeping services), and there is a noticeable cost increase from a supplier, such as higher delivery costs due to an increase in fuel. What pricing decision(s) would you make? 2. Pick a product or service with which you are familiar. Discuss the importance of contribution margins when setting the price for that product or service.