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May 4, 2015

Homework Help: managerial economics

Posted by jean on Wednesday, February 27, 2008 at 6:54pm.

The New York City Parks Department doubled the annual fee for the hot-dog pushcart that had the exclusive license for the spot just south of the Metropolitan Museum of Art to $288,000. Why would anyone pay almost $300,00 for a pushcart license? Who is obtaining the economic rent for the obviously lucrative pushcart location? How much economic profit is the pushcart owner probably earning?

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