There is a 1000 meter stretch of pristine beach.
It is serviced by 3 lemonade stands, of which you are the owner of one of them.
Each morning, you decide at which point you want to set up your stand, and it has to stay fixed for the rest of the day.
The beach patrons are equally distributed along the beach. They will favor the lemonade stand that is closest to them.
- If you are the first to arrive, where would you want to set up your stand?
- Is it the best to be the first to set up your stand?
- Does the above answers change if there is more competition for business?