ECON 103 ETSU Demand & Price Economy Worksheet
Description
pleas answer all questions carefully.Q1) The demand for seats per game, at a local stadium that seats a maximum of 50,000 per game, is P = 22 0.2Q where P is the price of a ticket and Q represents the number of seats (expressed in thousands). Assume that all seats and all games are the same, and Marginal Cost = $10 = Average Cost.PART-I. If the owner of the local stadium chooses a uniform per-ticket price, calculate the maximum profit per game?PART-II. If the per-ticket price must match the marginal cost, calculate the consumer surplus per game?Q2) your response (between 20 50 words) to the following question.Based on your reading of the article “Preserving Talent” (https://www.mydigitalpublication.com/publication/?m=17069&i=708291&p=74&ver=), what can UWM do to curb Wisconsins Brain Drain?
1 attachmentsSlide 1 of 1attachment_1attachment_1.slider-slide > img { width: 100%; display: block; }
.slider-slide > img:focus { margin: auto; }
Unformatted Attachment Preview
Question. [30 points] The demand for seats per game, at a local stadium that seats a maximum of
50,000 per game, is P = 22 0.2Q where P is the price of a ticket and Q represents the number of
seats (expressed in thousands). Assume that all seats and all games are the same, and Marginal
=
Cost = $10 = Average Cost.
=
PART-I. If the owner of the local stadium chooses a uniform per-ticket price, calculate the
maximum profit per game?
PART-II. If the per-ticket price must match the marginal cost, calculate the consumer surplus per
game?
Purchase answer to see full
attachment
Explanation & Answer:
2 Questions
Tags:
Economy
demand
price
User generated content is uploaded by users for the purposes of learning and should be used following FENTYESSAYS.COM ESSAY’s honor code & terms of service.
