Explain the events below using supply and demand

Assignment Help Business Economics

Reference no: EM13741045

Explain the events below using supply and demand.

At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated. At another restaurant that takes reservations, there is a month wait for a Saturday night reservation, three weeks wait for a Friday night reservation, two weeks wait for a reservation Tuesday-Thursday nights, and virtually no wait for a Sunday or Monday night reservation.

Reference no: EM13741045

Questions Cloud

Explain challenges facing newly independent countries : Explain Challenges facing newly independent countries once freed from European control.

Performance for the organization : Imagine that you are HR manager for a company with a high performance work system that includes the right combination of people, technology, and organizational structure. Provide two (2) suggestions for how the combination of these factors can con..

What were the essential traits of the postwar hindi film : What were the essential traits of the postwar Hindi film? Identify its conventions using the films discussed in the text as examples.

Food contain labels with nutritional information : In December 1992, the government began requiring that food contain labels with nutritional information. The information had to be verified by independent laboratories. The price of verification was $20,000 per food item. What impact would this have o..

Explain the events below using supply and demand : At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated.

Evaluation and validation techniques of the consultants : As the training manager, you are preparing to interview several consultants who may provide training services to your organization. As one of the goals for the interview, you want to find out about the evaluation and validation techniques of the c..

With the salvage value of the solar cells expected : An irrigation return flow drain has sampling equipment that can be powered by solar cells or by running an electric line to the site and using conventional power. Solar cells will cost $14,000 to install and will have a useful life of 10 years.

Explain thought of historical conditions that affected art : Explain discussions of the historical, political, and social conditions that affected works of art in your case studies in terms of subject and style.

Comparative advantage in producing sugar : Suppose labor productivity differences are the only determinants of comparative advantage, and Brazil and Chile both produce only coffee and sugar. In Chile, either 5 units of coffee or 2 units of sugar can be produced in one day. In Brazil, a day of..

User Account

All Pages