An all-you-can-eat buffet invites various types of customers. The ones who value food at $20 but eat only for $5 and the hungry ones who value the buffet at $40 and eat $20. If the restaurant gets 100 customers of each type a day how much revenue will the restaurant get? Please show your work.

An all-you-can-eat buffet invites various types of customers. The ones who value food at $20 but eat only for $5 and the hungry ones who value the buffet at $40 and eat $20. If the restaurant gets 100 customers of each type a day how much revenue will the restaurant get? Please show your work.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 2DQ

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