Part II: 18 Marks Taylor Stadium is evaluating ticket prices for its baseball games. Studies have shown that Monday and Tuesday ball games average less than half the fans of games on other days. The following information pertains to the stadium's normal operations per season. Average fans per game Average fans per Monday/Tuesday game Stadium operating hours per season for baseball Stadium capacity Variable operating costs per hour Fixed overhead costs per year for all events Marketing costs per season for baseball Customer service costs per season for baseball 5,000 fans 2,000 fans 300 hours 7,000 seats $2,000 $450,000 $212,500 $25,000 The stadium is open for 5 hours on each day a game is played. The stadium is available for some type of use 300 days a year. All employees work by the hour except for the administrators. In addition, only one game is played per day and each fan would have only one ticket per game. B) Explain the differences between short-run pricing decisions and long-run pricing decisions. (6 marks)