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On Thursday nights, a local restaurant has a pasta special.

Resolved Question:

On Thursday nights, a local restaurant has a pasta special. Ari likes the restaurant’s pasta, and his willingness to pay for each serving is shown in the accompanying table.

Quantity of Pasta Willingness to pay for Pasta
1 \$10
2 \$8
3 \$6
4 \$4
5 \$2
6 \$0

a. If the price of a serving of pasta is \$4, how many servings will Ari buy? How much consumer surplus does he receive?

b. The following week, Ari is back at the restaurant again, but now the price of a serving of pasta is \$6. By how much does his consumer surplus decrease compared to the previous week?

c. One week later, he goes to the restaurant again. He discovers that the restaurant is offering an “all you can eat” special for \$25. How much pasta will Ari eat, and how much consumer surplus does he receive now?

d. Suppose you own the restaurant and Ari is a “typical” customer. What is the highest price you can charge for the “all you can eat” special and still attract customers?
Submitted: 7 years ago.
Category: Homework
Expert:  Joanne replied 7 years ago.

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Joanne, Tutor
Category: Homework
Satisfied Customers: 3632
Experience: BSc (Hons) Political Science
Customer: replied 7 years ago.

thank you very much for the help, you were a tremendous help!

Crystal

Expert:  Joanne replied 7 years ago.
You're welcome. Have a great weekend ahead.

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