A concession stand sells hot dogs colas and chips what changes in capital labor materials occur if the demand for declines steps could you take to reduce output short run?
Changes in Capital, Labor, and Materials:
Demand Decline: When the demand for the concession stand's products (hot dogs, colas, and chips) declines, it impacts capital, labor, and materials utilized within the concession stand. Here's an outline of the changes that may occur:
Short-Term Measures to Reduce Output:
To reduce output within the concession stand in the short run. you could opt for various changes that maintain cost-efficiencry while matching lower market demand. Several short-term steps you could consider implementing during times of declining demand can include:
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