Because I really wanted the investment money, I told this stingy investor that I could start marketing the product so that I’m on track to sell 5,000 units, and then increase the price over time until it reaches $1000. However, I wasn’t really thinking when I said this out loud. Based on your knowledge of how price affects consumer choices, what are the two possible effects? How would each effect look specifically for this situation of selling dog leashes? ( 4 points)
