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Managerial Economics & Organizational Architecture 6th Edition by James Brickley , Clifford Smith ,Jerold Zimmerman
Edition 6ISBN: 978-0073523149Managerial Economics & Organizational Architecture 6th Edition by James Brickley , Clifford Smith ,Jerold Zimmerman
Edition 6ISBN: 978-0073523149 Exercise 4
ANALYZING MANAGERIAL DECISIONS: Tipping in Restaurants
In most restaurants, waiters receive a large portion of their compensation through tips from customers. Generally, the size of the tip is decided by the customer. However, many restaurants require a 15 percent tip for parties of eight or more. Using the concepts from this chapter, discuss (a) why the practice of tipping has emerged as a major method of compensating the wait staff, (b) why the customer typically decides on the amount of the tip, and (c) why restaurants require tips from large parties.
In most restaurants, waiters receive a large portion of their compensation through tips from customers. Generally, the size of the tip is decided by the customer. However, many restaurants require a 15 percent tip for parties of eight or more. Using the concepts from this chapter, discuss (a) why the practice of tipping has emerged as a major method of compensating the wait staff, (b) why the customer typically decides on the amount of the tip, and (c) why restaurants require tips from large parties.
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Managerial Economics & Organizational Architecture 6th Edition by James Brickley , Clifford Smith ,Jerold Zimmerman
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