The economic perspective used in customer decision making at fast-food restaurants is reflected in:Multiple Choiceall customer lines tending to be of equal length.customers leaving rather than waiting if all lines are long.all of these are correct.customers selecting the shortest line.
Question
The economic perspective used in customer decision making at fast-food restaurants is reflected in:Multiple Choiceall customer lines tending to be of equal length.customers leaving rather than waiting if all lines are long.all of these are correct.customers selecting the shortest line.
Solution 1
The economic perspective used in customer decision making at fast-food restaurants is reflected in: customers selecting the shortest line. This is because from an economic perspective, customers aim to maximize their utility. In this context, utility can be considered as the satisfaction or benefit derived from consuming a good or service. By choosing the shortest line, customers are minimizing their wait time, which in turn maximizes their utility.
Solution 2
The economic perspective used in customer decision making at fast-food restaurants is reflected in: customers selecting the shortest line. This is because from an economic perspective, customers aim to maximize their utility. In this context, utility can be considered as the satisfaction or benefit derived from consuming a good or service. By choosing the shortest line, customers are minimizing their wait time, which in turn maximizes their utility.
Similar Questions
From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have concluded that the:Multiple Choicemanagement is exhibiting irrational behaviour by not maximizing profits.marginal cost of waiting is less than the marginal benefit of being served.management is making an assumption that other things are equal.marginal cost of waiting is greater than the marginal benefit of being served.
Consumers might leave a fast-food restaurant without being served because:Multiple Choicethey conclude that the marginal cost (monetary plus time costs) exceeds the marginal benefit.they are misinformed about the marginal cost and marginal benefits of the food being served.the environment is not conducive to a rational choice.the lines waiting for service are not of equal length.
he effect of constant rather than variable service durations is to cut the average number of customers waiting in line.Multiple ChoiceTrueFalse
A fast-food outlet has the following cost structure.Monthly rent on the outlet building = $10,000Monthly wages of each staff = $1,000Let’s say the restaurant manager has three options.Option A: Hire 20 staff and serve 100 customers per dayOption B: Hire 40 staff and serve 180 customers per dayOption C: Hire 60 staff and serve 250 customers per dayWhich option should he choose? (Assume that his only objective is to minimise cost per customer served.)Option AOption BOption C
At a popular restaurant known for its fast and efficient service, a customer arrives during peak hours expecting to be seated promptly and served quickly. However, due to the high demand, the customer experiences delays in being seated and served. Despite the delays, the food quality meets the restaurant's usual standards.What gap in service delivery is highlighted in this scenario? Gap between perceived service and expected service Gap between customer expectation and management perception Gap between service-quality specifications and service delivery Gap between service delivery and external communications
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