A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building he owns and currently rents for $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What is the minimum revenue he must earn per year in order for it to be worth his while to open

Strategic situations are more likely to arise when the number of decision-makers is very large rather than very small.

Answer the following statement(s) true (T) or false (F)

Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the question(s) that follow. Figure 2.1Refer to Figure 2.1. Macroland's production possibility frontier is bowed out from the origin due to

A. decreasing opportunity costs. B. specialized resources. C. trade. D. unemployment.