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Home Q & A Board Other Fields Homework Help Business Economics
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Tidy Tidy
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Posts: 4852
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9 years ago
You have just opened a new Italian restaurant in your hometown where there are three other Italian restaurants. Your restaurant is doing a brisk business and you attribute your success to your distinctive northern Italian cuisine using locally grown organic produce. What is likely to happen to your business in the long run?
A) Your competitors are likely to change their menus to make their products more similar to yours.
B) Your success will invite others to open competing restaurants and ultimately your profits will be driven to zero.
C) If your success continues, you will be likely to establish a franchise and expand your market size.
D) If you continue to maintain consistent quality, you will be able to earn profits indefinitely.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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VincenzoDVincenzoD
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9 years ago
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Tidy Author
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9 years ago
Thank you, thank you, thank you!
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This site is awesome
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Brilliant ツ
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