M B A 8620 Lecture Notes - Lecture 2: Fusion Cuisine, Tax Incidence, Price Ceiling

• School: Clemson University
• Department: Business Administration
• Course: M B A 8620
• Professor: Ron Gregory

Document Summary

Article about restaurants closing in greenvile that the professor read about. It states that is a matter of supply and demands the issues with restaurants closing. In the south southern food restaurants its easier to find workers that can cook southern food. Breakwater is another example, they never said they were going out of business, just to try another thing, wonderful location, superior staff, great menu, people loved us , we just decided that it was time for something different. Its all about tweaking the model and incremental changes to make profit. Before breakwater there was a brazilian steak place, so 4 restaurants in 7 years. High cotton closed and said they were rebranding but this will keep happening, restaurants going out of business. If any of the curves (demand and supply) is shifting that"s a clue that the change is not a change in price but a change in any other factor but the good"s price.