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In St. Catharines there are three restaurants, Art's, Bob's and Carol's with the attributes and prices given below. Illustrate the efficiency(attribute) frontier. Which restaurant(s) will

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In St. Catharines there are three restaurants, Art's, Bob's and Carol's with the attributes and prices given below. Illustrate the efficiency(attribute) frontier. Which restaurant(s) will you as a consumer with $ 50 income select? Assume the restaurant meals are totally divisible and that you can attend more than one. Brand Attributes per meal Prices per [Cuisine, Decor] per meal Art's (A) (5,1] $10.00 Bob's (B) [2,2] $5.00 Cat's (C) [ 1,7] $12.50 Cuisine 30 28 26 24 22 20 18 16 14 12 10 6 4 2 0 10 12 14 16 18 20 22 24 26 28 30 DecorSelected restaurant(s) and Number of meals from each restaurant and if you could only select one restaurant which would it be? What would restaurant B have to lower its price to for you to select only it? $ Why? What percentage amount would restaurant B have to improve both their food and cuisine for you to select only it? %

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