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In some places it is common for large supermarkets to stay open 24 hours a day

Economics

In some places it is common for large supermarkets to stay open 24 hours a day. 1. Suppose you walk into a large supermarket at 2 am with a friend to buy some blank CD-Rs. Your friend says, "I can't believe that these stores stay open all night. Only one out of fifteen checkout lines is open. There can't be more than ten shoppers in this store. It just doesn't make any sense for this store to be open all night." Keeping in view the perfectly competitive market structure, explain to your friend what conditions must be true for it to be to the advantage of the supermarket to stay open all night. 2. Are the costs of rent, equipment, fixtures, salaries of management, and so on, relevant when the supermarket makes the decision whether to stay open at night? Why? 3. If the supermarket had the same number of customers during its daytime hours as you observed during its nighttime hours, do you think it would continue to operate? Explain.

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