(29)Approximately 80 percent of all new restaurants have gone out of business within five years of their...
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(29)Approximately 80 percent of all new restaurants have gone out of business within five years of their founding.Obviously, starting a new restaurant is a risky enterprise.
(a)How should we measure the amount of this risk in the case of restaurants?
(b) Would you propose a different measure for the risk attached to a U.S. Marine deployed in Afghanistan?
(c)What about purchasing a new home?
What are the economic principles attached to these measurements?
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