Can you please answer D,E & F PriceTotal costQuantity(ticketsper show)Big Top is the only circus in the nation. The table(dollars perticket)(dollars pershow)sets out the demand schedule for circus ticketsand the cost schedule for producing the circus.Calculate Big Top's profit-maximizing price,output, and economic profit if it charges asingle price for all tickets. You are constructinga table with total costs ,average total costs, and201,0001,6002,2002,8003,4004,0004,6005,2005,800а.18100162001430012400total revenue.10500600b. When Big Top maximizes profit, what isconsumer surplus and producersurplus and is the circus efficient? Explainwhy or why not. You are constructing a table showing total revenue andmarginal revenue. You are also constructing a graph to show consumer surplusand producer surplusthe7004800At the market equilibrium, no children under 10 years old attend the circus. BigTop offers children under 10 a discount of 50 percent. How will this discountchange the consumer surplus and producer surplus? Will Big Top be moreefficient by offering the discount to children? No graph is needed just anexplanation.d. If Big Top is regulated to produce the efficient output, what is the quantity oftickets sold, what is the price of a ticket, and what would be the consumersurplus? No graph is needed, just an explanation with a calculation of consumersurplusIf Big Top is regulated to charge a price equal to average total cost, what is the quantity oftickets sold, the price of a ticket, and economic profit? You need a graph showing price, MCand AC. You need a graph and you have to show deadweight lossf. Draw a graph to illustrate the circus market if regulators set a price cap thatenables Big Top to break even. Show the deadweight loss in your graph.с.е.

Efficient output refers to the point where the average cost of the production is minimized .

Big Top is the only circus in the nation. The table (dollars per ticket) (tickets per show) (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 sets out the demand schedule for circus tickets and the cost schedule for producing the circus. 20 Calculate Big Top's profit-maximizing price, output, and economic profit if it charges a single price for all tickets. You are constructing a table with total costs ,average total costs, and total revenue. а. 18 00 16 200 14 300 12 400 10 500 600 b. When Big Top maximizes profit, what is consumer surplus and producer the 6 700

Big Top is the only circus in the nation. The table (dollars per ticket) (tickets per show) (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 sets out the demand schedule for circus tickets and the cost schedule for producing the circus. 20 Calculate Big Top's profit-maximizing price, output, and economic profit if it charges a single price for all tickets. You are constructing a table with total costs ,average total costs, and total revenue. а. 18 00 16 200 14 300 12 400 10 500 600 b. When Big Top maximizes profit, what is consumer surplus and producer the 6 700

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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