Many restaurants dont take reservations. You simply arrive and wait your turn. If you arrive at 7:30
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Many restaurants don’t take reservations. You simply arrive and wait your turn. If you arrive at 7:30 in the evening, you have at least an hour wait. Notwithstanding that fact, a few people arrive, speak quietly with the maıˆtre d’, hand him some money, and are promptly seated. At some restaurants that do take reservations, there is a month wait for a Saturday evening, three weeks for a Friday evening, two weeks for Tuesday through Thursday, and virtually no wait for Sunday or Monday evening. How do you explain these events using demand and supply?
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Here is an explanation using supply and demand For restaurants that dont take reservations there is ...View the full answer
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