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Business, 26.03.2021 19:20 memelord4206969

The information on the salmon market provided in the previous four questions is no longer relevant. Instead, the next few questions deal with a restaurant owner. A restaurant owner has just gotten the bad news that his landlord has raised the rent. However, he has looked at the financial figures and he still has a profitable business. The increase in rent that the owner must pay:Hint: Think in terms of the relation between revenue and cost at the margin -- and its implications for firm behavior. a. will cause him to raise his price and reduce the number of meals that he servesb. will cause him to lower his price in order to raise revenuec. may cause the price he charges to rise or falld. will have no impact on the price that he charges or the number of customers that he serve

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The information on the salmon market provided in the previous four questions is no longer relevant....

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