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A local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor license. This license gives the owner the right to sell beer, wine, and spirits in her restaurant. The cost of obtaining the three-way license was about $90,000 since only 300 such licenses are issued by the state. While the license is transferrable, only $75,000 is refundable if the owner chooses not to use the license. After selling alcoholic beverages for about one year, the restaurateur came to the realization that she was losing dinner customers and that her profitable restaurant was turning into a noisy, unprofitable bar. Subsequently, she spent about $4,000 placing advertisements in various newspapers and restaurant magazines across the state offering to sell the license for $80,000. After a long wait, she finally received one offer to purchase her license for $76,000. Was the restaurateur’s decision to advertise the license a good decision? Would you recommend that she accept this $76,000 offer?
Your firm is considering purchasing an old office building with an estimated remaining service life of 25 years. Recently, the tenants signed long-term lease, which leads you to believe that the current rental income of $210,000 per year will remain ..
Elucidate how does the real wage rate at point c compare with the real salary rate at point a. How do nominal wage rates compare at those two points.
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
Who compiles data for the national accounting in US? How GDP is measured through income approach? How GDP is measured through expenditure approach? What are the differences between income and expenditure approaches in measuring GDP?
A good without any close substitutes is likely to have relatively _______? demand, because consumers cannot easily switch to a substitute good if the price of the good rises.
Identify a PLC company that uses strategic management - this company may be prosperous, booming, in decline, or in economic difficulties.
Illustrate what is the present worth of the planned expenditures at an interest rate of 10% every year
What is the purpose of criminal law? Explain how crimes are classified? Give two examples of white-collar crime. What do you believe the punishment should be for this crime?
Other things equal, what effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram to show the expected effects of the equilibrium price level and the level of real output.
Sketch the payoff matrix for this game. Identify any possible Nash equilibria in pure strategies for this game."
Porters 5 Forces analysis of Louis Vuitton
Seller surplus is _________.
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