The ___________Of a Menu Item Is Defined as Its Raw

question 30

Short Answer

The ___________of a menu item is defined as its raw food cost plus the labor cost involved in preparing the item.

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Definitions:

Supply Curve

A curve that illustrates the supply for a product by showing how each possible price (on the vertical axis) is associated with a specific quantity supplied (on the horizontal axis).

Demand Curve

The demand curve is a graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Economic Rent

Extra earnings above the minimum amount necessary for a resource to remain in its current use, often arising from scarcity or market control.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.