=14-29 During a recent trip to her favorite restaurant, Sandy

(owner of shop 1) met Chris Talley (owner of shop 7)

(see Problem 14-28). After an enjoyable lunch, Sandy and Chris had a heated discussion about market share for the quick-oil-change operations in their city. Here is their conversation: Sandy: My operation is so superior that after someone changes oil at one of my shops, they will never do business with anyone else. On second thought, maybe 1 person out of 100 will try your shop after visiting one of my shops. In a month, I will have 99% of the market, and you will have 1% of the market.

Chris: You have it completely reversed. In a month, I will have 99% of the market, and you will only have 1% of the market. In fact, I will treat you to a meal at a restaurant of your choice if you are right. If I am right, you will treat me to one of those big steaks at David’s Steak House. Do we have a deal?

Sandy: Yes! Get your checkbook or your credit card.

You will have the privilege of paying for two very expensive meals at Anthony’s Seafood Restaurant.