Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

-Please solve the exercises with clearly solutions and visual graphs on a word document-You will the exercise attached

1 answer below »
-Please solve the exercises with clearly solutions and visual graphs on a word document-You will the exercise attached
hospitality-econs-assignment-1-w1iyq1qp.png
Answered Same Day May 24, 2022

Solution

Komalavalli answered on May 25 2022
102 Votes
a)
Diner’s demand
Pd = 10-0.2*Qd
Demand equation for Restaurant’s Pr= 250 – 2.5Q
When Diner’s price is $2, the quantity of open table on diner’s side is
Pd = 10 – 0.2*Q
Qd = 10-Pd/0.2
Qd= 10-2/0.2
Qd = 8/0.2
Qd =40
Produce surplus for diner’s = ½*(0-2)*(0-40)
Produce surplus for diner’s = $40
When restaurant price is $10, the quantity of open table on restaurant side is
Pr = 250 –...
SOLUTION.PDF
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here
Attach File