Update on the future of Central Bedfordshire Music Service
Imagine you take over a company making widgets. The typical market price for widgets is £50. You have many customers who buy a widget every few months at your selling price of £40. The problem is it is costing you £65 to make your widgets. After a business review, you decide to increase your selling price to £65, you give your customer base a couple of weeks to cancel their regular purchase or accept the price rise.
The obvious outcome, is that your customers will take their business elsewhere, rather than paying over the market price for your goods.
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