Help small businesses earn more

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Question: Your city is encouraging the use of reusable, eco-friendly water bottles to cut down on plastic waste. In the current local market, a reusable bottle sells for about $5, and each month about 10,000 bottles are sold. Surveys show some consumers are willing to pay up to $8 for these bottles, while some producers would have supplied them for as low as $3 each. Get instant assignment help from top tutors.

Local environmental groups want to know if this market is working efficiently or if intervention might help. Some producers argue for a price floor of $6 per bottle to help small businesses earn more.

Reference no: EM133939920

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