a. What kind of market would describe the center? Graph the center's average total cost curve and its marginal cost curve b. The mayor proposes financing the center with a lump-sum tax of $24 and then opening the center to the public for free. How many times would each person visit? Calculate the benefit each person would get from the center, measured as consumer surplus minus the new tax c. The mayor's anti-tax opponent says the center should finance itself by charging an admission fee. What is the lowest price the museum can charge without incurring losses?
a. What kind of market would describe the center? Graph the center's average total cost curve and its marginal cost curve b. The mayor proposes financing the center with a lump-sum tax of $24 and then opening the center to the public for free. How many times would each person visit? Calculate the benefit each person would get from the center, measured as consumer surplus minus the new tax c. The mayor's anti-tax opponent says the center should finance itself by charging an admission fee. What is the lowest price the museum can charge without incurring losses?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I sincerely want the problems b,c,d to be solved. Thank you very much

Transcribed Image Text:a. What kind of market would describe the center? Graph the
center's average total cost curve and its marginal cost curve
b. The mayor proposes financing the center with a lump-sum tax of
$24 and then opening the center to the public for free. How many
times would each person visit? Calculate the benefit each person
would get from the center, measured as consumer surplus minus the
new tax
c. The mayor's anti-tax opponent says the center should finance
itself by charging an admission fee. What is the lowest price the
museum can charge without incurring losses?
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