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Do some quick research on real estate prices

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Tribeca Putt-Putt Golf

  • Sideshow Bob manages the Tribeca Putt Putt Golf course on a third of an acre owned by Tribeca Putt Putt Golf CEO (Krusty the Clown) in the Tribeca area of Manhattan.
  • Sideshow Bob charges $45 for nine holes. Annual total revenue is $3,000,000. Annual labor and supply costs are $400,000. Annual accounting profit (total revenue less explicit costs) is $2,600,000.

Please answer BOTH of the following questions:

1. Do some quick research on real estate prices. What are real estate prices like in Tribeca? Cite your source(s).AND

2. What are some profit-improving actions that Sideshow Bob could take to improve Krusty the Clown's return on his property? Please take into account all opportunity costs

Reference no: EM133999447

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