The food at the Empire Tap Room is distinctively American, and you can't beat the selections of beer. (They have over 20 kinds on tap, hence the name of the restrauant). Plus, they have a nifty outdoor dining area/patio, and the atmosphere is quite casual.
Prices of the dishes range from around $18-30 for the main courses, around $7-10 for the starters, and deserts are around $5-10. Very typical for the Palo Alto area.
The inner dining area is a bit small and cramped, so if the weather is cooperating (which in Palo Alto it almost always is), you should definatley sit outside.
Plan on spending about $35-40 per person including drinks, main course, dessert, and tip.