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Author Question: There is only one supermarket in Beverly Hills, California because A) supermarkets can't compete ... (Read 47 times)

futuristic

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on: Jun 29, 2018
There is only one supermarket in Beverly Hills, California because
 
  A) supermarkets can't compete effectively against residents in buying land.
  B) supermarket owners are paying attention to sunk costs in their location decisions.
  C) the demand for food is highly elastic in wealthy neighborhoods.
  D) the demand for food is highly inelastic in wealthy neighborhoods.
  E) wealthy people rarely do their own grocery shopping.

Question 2

What is a welfare state?
 
  What will be an ideal response?


smrtceo

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A welfare state is the set of insurance, regulation, and transfer programs operated by the government, including unemployment benefits, pensions, and government-run-and-financed health care. In the United States, for example, the welfare state comprises several programs, such as Medicaid and food stamps, which are targeted at the poor.


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