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Economics A Friend of yours lives in a city with a population of 100,000 people. The city has no restaurants, but has 20 milkshake stands.

Economics

  1. A Friend of yours lives in a city with a population of 100,000 people. The city has no restaurants, but has 20 milkshake stands. Your friend call you one night and tells you that he would like to open a milkshake stand because he's sure that he can do a better job than the other 20 milkshake stand owners. What advice would you give him?

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