If Big Top is regulated to charge a price equal to average total cost, what is the
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If Big Top is regulated to charge a price equal to average total cost, what is the quantity of tickets sold, the price of a ticket, and economic profit?
Big Top is the only circus in the nation. The table sets out the demand schedule for circus tickets and the cost schedule for producing the circus.
Transcribed Image Text:
Price (dollars per ticket) 20 18 16 14 12 1986 10 4 Quantity (tickets per show) 0 100 200 300 400 500 600 700 800 Total cost (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 5,800
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The quantity will be a bit more than 600 and the price will somewhat less than 8 ...View the full answer
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