Refer to Scenario 9

question 263

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. Economic profit per week is

Definitions:

Casual Social Interactions

Interactions that are informal and not structured, occurring spontaneously between individuals in social settings.

Job Interviews

The process in which potential employees are evaluated by an employer for prospective employment in their company or organization.

Courtrooms

Formal settings where legal cases are heard and decided by a judge and possibly a jury, part of the judiciary system.

Systematic Judgment

The process of making decisions or conclusions based on a methodical consideration of evidence, criteria, or predetermined rules.