Assume that demand for tickets to the 2023 University of michigan spring football scrimmage is given by

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Assume that demand for tickets to the 2023 University of michigan spring football scrimmage is given by the function:

P = 1,000 - .01A

MR is given by the function:

MR = 1,000 - 0.02A

A = the number of attendees/tickets.

If MC is constant at $10.00, answer the following:

What is the price and attendance with competition?

What is the monopoly price and attendance?

How much consumer surplus is left (if any)?

What is the social welfare loss (if any)?

Related Book For answer-question

Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

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Posted Date: May 08, 2024 07:02 AM

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Assume that demand for tickets to the 2023 University of michigan spring football scrimmage is given by

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Intermediate Microeconomics

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