Kate's 24-Hour Breakfast Diner menu offers one item, a $5.00 breakfast special. Kate's costs for servers, cooks, electricity, food, etc. average out to $3.95 per meal. Her costs for rent, insurance cleaning supplies and business license average out to $1.25 per meal. Since the market is highly competitive, Kate should.

Kate will continue to operate in the short-run but plan on she will  exit the business in the long-term

Explanation:

Kate's decision should be guided by her business's performance in terms of profitability. Kate is selling her meal at $5, but her total cost of serving the meal is $5.20.  It means the business is operating at a loss.

Kate must start plantation on how she will leave that business. She may continue operating but only for a short while. Soon, she will find it hard to stay open because the business is loss-making. Kate will, therefore, continue operations in the short run. In the long term. Kate must plan on exiting the business.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

government control and resources