# economic analysis

suppose you are running the food concession at the athletic events for your college.you sell hot dogs,colas,and potato chips.What are your inputs of capital,labor and materials?if the demand for the hot dogs declines,what steps could you take to reduce output in the short run?in the long run?

Capital: concession lease; equipment
Labor: wages of employees
Materials: food

To reduce hot dog output Short term: keep the wieners in the freezer and don't have so many ready to serve in the broiler.
Long term: order fewer wieners and buns

I would think they should be more interested in increasing rather than reducing output.

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