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Hi, I need help please. Elliot has the following marginal values for toilet paper rolls consumed per month. (For this problem, assume Elliot can only

Hi, I need help please.

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Elliot has the following marginal values for toilet paper rolls consumed per month. (For this problem, assume Elliot can only buy toilet paper rolls in whole units; i.e. use the discrete values given, do not graph as a linear demand curve): WW 1 $12.00 2 9.50 3 7.00 4 4.50 5 3.00 6 1.50 Assume that Elliot initially has two options for where he can purchase toilet paper rolls; Kroger grocery store and Costco. The price of toilet paper rolls at Kroger is $5.00 per roll and the price of toilet paper rolls at Costco is $2.00 per roll. 1. If Elliot shops at Kroger, how many rolls would Elliot buy each month, how much would he spend in total for all the toilet paper rolls he would purchase each month, and how much total consumer surplus would he receive each month? (Work must be shown in order to receive full credit] 2. If Elliot shops at Costco, how many rolls would Elliot buy each month, how much would he spend in total for all the toilet paper rolls he would purchase each month, and how much total consumer surplus would he receive each month? (Work must be shown in order to receive full credit] 3. In order to shop at Costco, Elliot must buy a membership. If the only thing Elliot buys at Costco is toilet paper rolls, what is the most that Elliot would be willing to pay each month on a membership fee to shop at Costco? Briey explain your reasoning. 4. Now assume that Elliot has a third option. He could also buy toilet paper rolls at Rachel's Paper Products Emporium. If Rachel charges $4.00 per roll of toilet paper, what impact would this have on the maximum amount Elliot is willing to pay each month on a membership fee to shop at Costco? Briey explain your reasoning

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