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A restaurant offers an all-you-can eat lunch buffet for $10. Customers pay $10 when they walk in the door. They then help themselves to a
A restaurant offers an all-you-can eat lunch buffet for $10. Customers pay $10 when they walk in the door. They then help themselves to a plate of food, choosing from among the available items. Customers may get a new plate of food as many times as they wish for no additional charge. One day, the owner decided he was in a generous mood and randomly selected 20 guests as they walked in the door and told them that there was no charge at all for the lunch. All other guests paid the usual $10. If all customers are rational (in the sense of following good economic principles), will the customers who eat for free consume more, less, or the same amount of food (on average) as the customers who paid $10? Explain your answer. Your explanation should state very clearly the principle or principles that you are using in your analysis, and of course that principle (or principles) will be from among the ideas we have discussed since the second test
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