A monopolist has a cost function with only fixed costs: () = 100 for any . (That is, the cost is $100 independent of output.) The monopolist faces a demand function () = 100 2 . Obtain the optimal quantity and price, and the profit for this monopolist.

b) In 2016, commenting on the Copa America hosted by the USA, A. Gordon wrote on Vice.com: "There is plenty of evidence Copa America tickets didnt match demand. The most obvious indicators, of course, are the empty seats." His point: the Copa America had been an economic fiasco (in part) because the ticket prices had been too high, as the empty seats in the stadiums showed. (E.g., in the game between Costa Rica and Paraguay played in Orlando, the attendance was 14,334, as compared to a 32,8847 average attendance for an Orlando Citys game.) In 8-12 lines, and enlightened by the model that you solved in part a), comment on Gordons statement.