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During the peak of the pandemic, the Hong Kong Government imposed severe dining restrictions on restaurants. Some restaurants chose to close temporarily . When the
During the peak of the pandemic, the Hong Kong Government imposed severe dining restrictions on restaurants. Some restaurants chose to close temporarily. When the pandemic was under control and severe dining restrictions were removed, they resumed their businesses and operated. However, some other restaurants chose to close and left the market during the peak of the pandemic. Suppose the restaurants were in a competitive market. Explain why different restaurants made two different decisions.
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