What measures should restaurant take to maximize its profit

Assignment Help Macroeconomics
Reference no: EM13190557

A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restuarant has received rave reviews and has lines of diners waiting for tables most nights.

a. In the shourt run (next few months) , what measures should the restaurant take to maximize its profit? Explain.

b. In the long run ( next six months and beyond) , how ccan it maximize its profit? (Assume that the impressive state of demand is permanent.)

Reference no: EM13190557

Questions Cloud

Determine an equation for the right bisector of the line : Determine an equation for the right bisector of the line segment with endpoints P(-5,-2) and Q(3,6)
Suggest mitigation strategies for vulnerabilities identified : Risk Management varies in each instance and event. Selecting the various options from home or work may help make or break your network.
Define a hypothetical atom has four allowed energy levels : A hypothetical atom has four allowed energy levels. As shown in the accompanying diagram, the emission spectrum of this atom will contain six transitions, labelled A - F.
Explain the process used to obtain the interval : Find a 98% confidence interval for the true proportion of patients who experienced cotton mouth. Show your calculations and/or explain the process used to obtain the interval.
What measures should restaurant take to maximize its profit : A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restuarant has received rave reviews and has lines of diners waiting for tables most nights.
Explain how performance readiness can be applied to teams : Explain how performance readiness can be applied to teams. Provide examples. Explain why teams are a competitive strategy for an organization. Provide examples.
What blood alcohol concentration correspond of car accident : R=6e^(12.77x) x is blood alcohol concentration and R, given as a percent, is the risk of having a car accident. What blood alcohol concentration corresponds to a 66% risk of a car accident?
State what was the wavelength of the photon emitted : The atom then emits two photons: one of wavelength 1282.2 nm to reach an intermediate level and a second to return to the ground state. What was the wavelength of the second photon emitted?
What is the probability that the mean weight of a random : what is the probability that the mean weight of a random sample of 35 college football players is between 207 pounds and 212 pounds.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd