Refer to Scenario 9

question 135

Multiple Choice

Refer to Scenario 9.3 below to answer the question(s) that follow.
SCENARIO 9.3: Investors put up $520,000 to construct a building and purchase all equipment for a new restaurant. The investors expect to earn a minimum return of 10 per cent on their investment. The restaurant is open 52 weeks per year and serves 900 meals per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly) . Included in the fixed costs is the 10% return to the investors and $1,000 per week in other fixed costs. Variable costs include $1,000 in weekly wages and $600 per week for materials, electricity, etc. The restaurant charges $5 on average per meal.
-Refer to Scenario 9.3. Total cost per week is

Definitions:

Darity-Myers Thesis

A hypothesis or perspective in economics, but without more context, the specific content or assertion of this thesis is uncertain. Likely not a widely recognized economic term without additional specification.

Black Poverty

Refers to the disproportionately high rates of poverty experienced by Black or African American communities, often due to systemic inequalities and historical disadvantages.

Heritage Of Slavery

Refers to the lasting cultural, economic, and societal impacts and legacies left by the institution of slavery in history.

Welfare Reform Act

The Welfare Reform Act refers to legislation aimed at changing the welfare system, typically by implementing work requirements, time limits, and other changes to reduce dependency on government aid.