Question

In an office complex, there are two restaurants where people buy lunch every day. Assume that the restaurants are exactly the same, with the notable exception of how salty the food is. Consumers’ preferences for salty food differ, and all consumers can be positioned along a line ranging from preferring no salt to extremely salty. Using the same reasoning as for a straight city street example discussed in class, describe how the two restaurants should decide how much salt to use. You can assume that the restaurants are profit maximizing, have no capacity constraints and the cost of salt is negligible.​

Answer 1

Explanation:

1. Petroleum was formed from organisms living in the sea. As the organisms died, their bodies settled at the bottom of the sea and got covered with layers of sand and clay. Over millions of years, absence of air, high temperature and high pressure transformed the dead organisms into petroleum and natural gas.