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

• A) ‐$400.
• B) $0.
• C) $600.
• D) $900.

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Definitions:

Parental

Relating to a parent or parents, encompassing aspects of nurturing, raising, and providing for offspring.

Richard Wanner

Without additional context, this appears to refer to an individual's name rather than a widely recognized key term.

Horizontal Mobility

The movement of an individual or group within the same social status or class, often through changing occupations or roles.

Intergenerational Mobility

The movement or changes in social status and economic position from one generation to another within a family or social group.