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Consider a competitive firm that sells catering services which is managed by Harold. The firm charges $400 for a four hour catering service. A catering
Consider a competitive firm that sells catering services which is managed by Harold. The firm charges $400 for a four hour catering service. A catering service is provided by a crew of four waiters and the company pays $20 per hour to a waiter. The owner of the company wants an economic profit of $400 per eight hours in a given day. In order to attain exactly the economic profit the company wants Harold would need to sell catering services each day (eight hour period per day). 05 6 O 1 04 none of the other answers are correct Sard
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