Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 20, Problem 2.2P
To determine

The market for each of the items listed.

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Read the following text and complete the sentences below with the correct answers. New York’s ‘real’ Little Italy By Danielle Oteri A It’s a dark winter evening on Arthur Street in the Bronx, one of New York City’s five neighbourhoods. Shops are closing. But as shopkeepers turn off lights and pull down metal grates, the windows of Mario’s restaurant glow yellow. Inside you can see old paintings of Italy’s most famous places, from the Blue Grotto to the Leaning Tower of Pisa. “Some customers have told me they don’t like the paintings,” says owner Joe Migliucci. Joe is 80, but he doesn’t look a day older than 50. He’s Mario’s son, and the paintings were made by his uncle, Ciro. He looks at them lovingly. “They say they’re too dark—too old-fashioned. But this is our history.”  B Mario’s is the oldest restaurant in one of the oldest Italian neighbourhoods in the city. New Yorkers know Arthur Street as the city’s ‘real’ Little Italy, where more than twenty Italian shops and restaurants have…
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