Microeconomics: On consumer decision-making based on utility theory, opportunity costs, and economic profits.

Two economists are attending a conference in an unfamiliar city. At the end of the day, Economist A states she is "in the mood for a high-quality dinner" and wanders through the center of the city looking for a restaurant. After narrowing her search to two fine-dining establishments located on the same block,

Economist A, she ultimately selects the restaurant with the higher prices (assuming cost is not an issue for either economist).

Economist B chooses to go to a one-price all-you-can-eat buffet.

1. Using economic theory how would you explain the difference in way Economist A goes about maximizing her utility compared to Economist B?

2. Next year when they both return to the economics conference in the same city, which of the two restaurants do you think has a higher chance of not being there anymore?