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Toledo has the highest restaurant per capita ratio in the world. With a population of only 300-400,000 the city seems to be littered with restaurants on every corner. The cost of living is very low in Toledo, incomes are high, hence consumers have a lot of disposable income. The $15-20 that a person can spend on a dinner for two at a restaurant sure beats the costs involved with cooking one's own food. You can get a meal at a restaurant in less than an hour. If you were to prepare the same meal at home the opportunity costs would be very prohibitive. Think of how long it would take you to go to the grocery store, purchase the raw materials, go home, prepare the meal, and finally eat it? Then total up how much money you could have made in taht time based on your wage rate. Is it worth it? The average worker earning $8-10 an hour would be better off eating out. J. Alexander's Mancy's
Italian
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