Answer to Question #83395 in Microeconomics for kawthar

Question #83395
What is your explanation of the prevailing cost conditions of the chosen firm ( restaurant)?
1
Expert's answer
2018-11-29T12:18:10-0500

It can be quite tasking to understand the prevailing cost conditions of any business enterprise since such discovery can adversely affect its competitive advantage in a given market. Thus, the cost structure of a restaurant can only be predicted. A restaurant with increased profitability implies low cost of production. On the other hand, reduction in profit implies a rise in cost of production.

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