____________________ Is the Operation of Two or More Franchises in One

question 23

Short Answer

____________________ is the operation of two or more franchises in one location to generate more customer traffic and maximize space,personnel,and management utility.

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Definitions:

Economic Profit

is the surplus or gain realized when the total revenues generated by a business exceed the explicit and implicit costs of operation.

Average Total Cost

The sum of all production expenses divided by the amount of products made.

Units

Basic measures or quantities, such as length, mass, time, etc., that serve as standards for expressing and comparing quantities.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced.