If Big Top is regulated to produce the efficient output, what is the quantity of tickets sold,
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If Big Top is regulated to produce the efficient output, what is the quantity of tickets sold, what is the price of a ticket, and what would be the consumer surplus?
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.
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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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Big Tops marginal cost is constant at 6 per ticket To o...View the full answer
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