skip to Main Content
The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

The fast-food industry business model is to provide filling food at a low cost. A fast-food restaurant such as McDonald’s lacks in quality, so, they make up for in quantity. Each value meal provides a tremendous number of calories. This provides quite a contrast with fine dining. At fancy establishments, the portions are smaller by design. You are to answer the following questions
What makes someone willing to pay significantly more when dining out at fancy establishments even though the portions are quite small? The answer will not be as simple as people pay for the service and a nice environment. The question asks “why” they are willing to pay for that. When answering this question, please refer to and include the concept of marginal and total utility.
McDonald’s example here is a lot like water in the diamond-water paradox. Please discuss this point on how you understand this statement. Again, please refer to the concept of marginal and total utility.
Please come up with at least two examples of the diamond-water paradox ( two pairs of products). Note that luxury goods do not automatically mean “diamond” and cheap (inferior) goods do not automatically mean “water.”


Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don't hesitate to contact our live support team or email us right away.

How It Works        |        About Us       |       Contact Us

© 2018 | Intelli Essays Homework Service®

Back To Top