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Opening Act

Opening Act. Everyone must do all of the following Sit in your “normal” seat Take out whatever you use to write down HW Take out all of your HSFC materials. Agenda. Discuss “Demand for Entrees….” Receive Total Revenue Information Discuss Receive Cost Data Information Discuss

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Opening Act

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  1. Opening Act Everyone must do all of the following • Sit in your “normal” seat • Take out whatever you use to write down HW • Take out all of your HSFC materials

  2. Agenda • Discuss “Demand for Entrees….” • Receive Total Revenue Information • Discuss • Receive Cost Data Information • Discuss • Receive Daily Costs Information • Discuss • Project Log #1 • HW- 2 tasks Due next class • Go to sharepoint under today’s date & print out the Unit Info pdf, it will prove useful throughout the rest of the unit • Project Log #2- • Review your HSFC materials & what you read in Chapter 4. Then answer the following questions using complete sentences (next slide)

  3. Project Log #2 HW-complete sentences • Why might the cost of labor & ingredients be higher for Fleur-de-lys than for Taco Villa? • Why are stall & equipment rentals called “fixed costs” while labor & ingredients are called “variable costs”? • How do these costs affect how much it costs to produce an entrée? • Use your handouts (pages 50-55) and textbook (Chapter 5)

  4. Project Log #1 • Answer these questions in complete sentences: • Why does Bennie’s sell more hamburgers when they are priced at $1 than when they are priced at $5? • Why can Bennie’s sell more hamburgers for $1 than Sally’s can sell salads for the same price & how does this affect the total revenue brought in by each restaurant? • What are some of the things that determine how many entrees students will buy from each restaurant? • Use your materials and do your best to answer all three questions

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