ou have worked in the industry for a decade, and you are now fed up with the boring work environment around you. The entrepreneurial bug has bitten you and a food business is in your mind. There are numerous challenges, however. In your city, the population is large enough to sustain the business, disposable incomes are high, and you feel that there is a niche offering that needs to be created for your restaurant. How would plan your service offering?

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How do companies make long-run pricing decisions?

Vintage Camera T Temple MIS G is You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term O drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long term

Your niece owns a different type of chicken restaurant. She specializes in chicken and noodles and    chicken pot pie.  Her pot pie is the better seller.  However, when its cold outside, the chicken and    noodles is the better seller.  She goes through about 100 chickens every two days.  It takes about    60 chickens to make 600 pot pies.  The other 40 chickens are used to make about 320 chicken and    noodle dishes.  When its cold outside it takes 70 chickens to meet the demand for chicken and    noodles. Construct a production possibilities model that graphically illustrates this problem.

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Explain the gains from trade that arise for both buyers and sellers in the following transactions: a. Neighbors Jordan and Chelsea are both working parents. They are able to hire a single babysitter to care for both of their toddlers for 75% of what they would collectively have to pay two separate babysitters. b. Elijah decides that his family should eat more healthy meals, but they are short on time. He buys a subscription that sends healthy preplanned meals to his home three times a week. c. Callie accepts an extra shift at work and hires a cleaning service to clean her apartment.