Please provide clear explanation of every step in solution, outline formulas used in the exercise, if you handwriting, upload good quality pictures Task 1: RollerX is the only local roller coaster company which has to decide on the fee per each ride. The marginal cost letting one additional person ride a roller coaster is zero. The demand for rides is given by the following inverse demand function: p(R) = 5-(1/100) R, where R is the total number of rides a) Suppose that RollerX decides to sell tickets for individual rides (rather than charge an admission fee). What is the profit-maximizing price per ride RollerX will charge and how many tickets will be sold? b) What is the efficient quantity of rides? Calculate the deadweight loss associated with the outcome in part a

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