Almost every town has a restaurant row, that is, an area where restaurants cluster near each other. Explain this phenomenon
Each restaurant owner is trying to capture a location land rent by locating close to the center of a given
market.
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Strategic trade policy might work if
A) trade decisions are made simultaneously by two countries. B) trade decisions are made sequentially by two countries. C) trade decisions entail response by a trading partner. D) trade decisions are made in a random fashion.
Steep Upward-Slope of yield curve so expect _____ interest rates
Fill in the blank(s) with the appropriate word(s).
The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242460680792If the product the firm produces sells for a constant $3 per unit, the marginal revenue product of the second unit of the resource is
A. $54. B. $36. C. $18. D. $126.
The Consumer Price Index is due for a major overhaul mainly because it is
A. overestimating the annual inflation rate by over 2%. B. overestimating the annual inflation rate by over 1%. C. underestimating the annual inflation rate by under 2%. D. underestimating the annual inflation rate by over 2%.