Answer:
The tax is 8%
Step-by-step explanation:
Take the final price and subtract the original price
513-475 = 38
Divide by the original price
38/475 =.08
Change to percent form
8%
The tax is 8%
Answer: no
Step-by-step explanation: no
Answer:
When customers wait longer for tables, they are more likely to pay higher prices.
Step-by-step explanation:
Supply/Demand relationships predict that changing one side will influence the other. If demand exceeds capacity, suppliers can raise prices without risk of losing products sold. In fact, total income will rise. The restaurant may raise it's price to the point that supply meets demand. In this case, the goal of the higher priced meals is to reduce wait times, not meals sold. If the meals sold are all at a higher price/meal, then income rises and wait times are reduced. What's not to like, if you own the restaurant?
