Scenario 17-1 ​

question 118

Multiple Choice

Scenario 17-1
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Assume that a local restaurant sells two items, salads and steaks. The restaurant's only two customers on a particular day are Mr. Carnivore and Ms. Leafygreens. Mr. Carnivore is willing to pay $20 for a steak and $7 for a salad. Ms. Leafygreens is willing to pay only $8 for a steak, but is willing to pay $12 for a salad. Assume that the restaurant can provide each of these items at zero marginal cost.
-Refer to Scenario 17-1. How much additional profit can the restaurant earn by switching to the use of a tying strategy to price salads and steaks rather than pricing these goods separately?

• A)$20
• B)$12
• C)$7
• D)$6

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Definitions:

Support System

A network of individuals or resources that provide assistance, comfort, and guidance.

Used An Analogy

Employing a comparison between two different things for the purpose of explanation or clarification.

Mental Set

A habitual strategy or pattern of approach to problem-solving that is based on past experiences and successes.

Working Backward

A problem-solving strategy where one starts from the goal state and works in reverse to reach the initial state.