Answer
The answer and procedures of the exercise are attached in an excel screenshot.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
It depends of what position you're in in the economy if your business owner your financial choices can affect the customers coming to your business and the people working for you / your business
Answer: monopolistically competitive industry
Explanation:
Based on the above information, Hot Wok Cuisine is most likely operating a monopolistically competitive industry.
This is a type of industry whereby the firm's make their own pricing and output decisions. There are large number of competitors, but the products that they sell are slightly different from one another. Also, there some entry barriers.
We can infer that the restaurant differentiates itself from a large number of competitors by providing exclusively organic Chinese cusine and there are entry barriers.