# Question

Two fast-food restaurants are located next to each other and offer different procedures for ordering food. The first offers five lines leading to a server, whereas the second has a single line leading to five servers, with the next person in the line going to the first available server. Use the assumption that most individuals are risk averse to discuss which restaurant will be preferred.

## Answer to relevant Questions

Assume consumers are choosing between housing services (H) measured in square feet and consumption of all other goods (C) measured in dollars.a. Show the equilibrium position in a diagram.b. Now suppose the government agrees ...Irene’s demand for pizza is given by:Q = 0:3I / PWhere Q is the weekly quantity of pizza bought (in slices), I is weekly income, and P is the price of pizza. Using this demand function, answer the following:a. Is this ...A person purchases a dozen eggs and must take them home. Although making trips home is costless, there is a 50 percent chance that all of the eggs carried on one trip will be broken during the trip. This person considers two ...Return to the game given by the payoff matrix in Problem.Two classmates A and B are assigned an extra credit group project. Each student can choose to Shirk or Work. If one or more players choose Work, the project is ...Suppose A can somehow change the game in problem 5.1 to a new one in which his payoff from Up is reduced by 2, producing the following payoff matrix.a. Find the Nash equilibrium or equilibria.b. Which player, if any, has a ...Post your question

0