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Author Question: The owner of the local Fatty Foods chain of restaurants is thinking about retiring. He has two ... (Read 106 times)

2125004343

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on: Jul 1, 2018
The owner of the local Fatty Foods chain of restaurants is thinking about retiring. He has two options: he can hire salaried managers for his stores or franchise them to local entrepreneurs. If the owner believes that there are high costs to monitoring the stores after he retires, what should he do?
 a. Let the stores stay company stores
  b. Sell them off as franchises
 c. Shut down the business completely
  d. Never retire

Question 2

Jim saw a decrease in the quantity demanded for his firm's product from 800 . to 600 . units a week when he raised the price of the product from 200 to 250 . Based on this information, the demand for Jim's product is
 a. Elastic
  b. Unitary elastic
  c. Inelastic
  d. Hard to determine


tanna.moeller

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


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