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Economics

You and your friend are trying to decide where to have dinner. Restaurant #1 has an average price of $20 per person and is 5 miles away. Restaurant #2 has an average price of $30 but is only 1 mile away. (a) Determine the set of all restaurants which would create a decoy and cause your friend to choose restaurant #1. (b) Determine the set of all restaurants which would cause your friend to choose restaurant #2.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91421671

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