Question 4:The following Graph represents the percentage of goods and services offered byseveral organizations:100%goodsPercentgoodsAutosGroceriesHotelsConsultingRestaurantsPercentservices100%servicesa) State the difference between goods and services.b) Using the Graph, approximate the percentage of services and percentage of goodsoffered by Restaurants. Explain these percentages.c) Using the Graph, approximate the percentage of services and percentage of goodsoffered by Groceries. Explain these percentages.d) For a Hotel, state what are the inputs, components, primary transformationfunctions and desired output.

Answered: The following Graph represents the…

The following Graph represents the percentage of goods and services offered by several organizations: 100% goods Percent goods Hotels Consulting Restaurants 100% services

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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