Survey Of Economics
Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 1, Problem 10SQ
To determine

Which is true about the renewable natural resources.

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Explain how sustainability and resilience is interdependent to each other.
Explain in detail. What is importance of sustainability development . How it helps in better allocation of resources.
A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find that consumers won't buy it because they dont like the taste.  From an economic perspective, the company should  keep the hamburger on the menu because they have spent so much money and time developing and promoting the product. spend more money to develop a more efficient way to cook the hamburger so it cooks in a shorter time. pull the hamburger off the menu and treat the development and promotion expenditures as a sunk cost. keep trying to sell the hamburger so that people who developed and promote it have a job with the company.
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