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BUS 640 Week 2 Assignment Patricia is researching venues for a restaurant business . She is evaluating three major attributes that she considers important in her choice
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Consumer Demand Analysis and Estimation Applied Problems Please complete the following two applied problems : Problem 1 :
Patricia is researching venues for a restaurant business . She is evaluating three major attributes that she considers important in her choice : taste , location , and price . The value she places on each attribute , however , differs according to what type of restaurant she is going to start . If she opens a restaurant in a suburban area of Los Angeles , then taste is the most important attribute , three times as important as location , and two times as important as price . If she opens a restaurant in the Los Angeles metropolitan area , then location becomes three times as important as taste and two times as important as price . She is considering two venues , respectively , a ...