Price Total cost Quantity (tickets per show) Big Top is the only circus in the nation. The table (dollars per ticket) (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 5,800 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 8 600 b. When Big Top maximizes profit, what is consumer surplus and producer surplus and is the circus efficient? Explain why or why not. You are constructing a table showing total revenue and marginal revenue. You are also constructing a graph to show consumer surplus and producer surplus the 6 700 4 800 At the market equilibrium, no children under 10 years old attend the circus. Big Top offers children under 10 a discount of 50 percent. How will this discount с. change the consumer surplus and producer surplus? Will Big Top be more efficient by offering the discount to children? No graph is needed just an explanation. IC D:

Price Total cost Quantity (tickets per show) Big Top is the only circus in the nation. The table (dollars per ticket) (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 5,800 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 8 600 b. When Big Top maximizes profit, what is consumer surplus and producer surplus and is the circus efficient? Explain why or why not. You are constructing a table showing total revenue and marginal revenue. You are also constructing a graph to show consumer surplus and producer surplus the 6 700 4 800 At the market equilibrium, no children under 10 years old attend the circus. Big Top offers children under 10 a discount of 50 percent. How will this discount с. change the consumer surplus and producer surplus? Will Big Top be more efficient by offering the discount to children? No graph is needed just an explanation. IC D:

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

See similar textbooks

Related questions

Q: The regions in the graph indicate whether a person is obese, overweight, borderline overweight,…

Q: You need to rent a moving truck for two days. Rider Moving Trucks charges $50 per day and $.50 per…

A: Creating Equation for charges of RIDER MOVING truckLet assume number of miles for two days be…

Q: A small radio transmitter broadcasts in a 50 mile radius. If you drive along a straight line from a…

Q: Consider the following set of ordered pairs. Complete parts a through 3 20 4 6 X y 2 4 4

A: c) From the part a, y^=3+0.4x SSE: x y y^ (y-y^)^2 3 4 3+(0.4*3)=4.2 0.04 1 2 3+(0.4*1)=3.4…

Q: Equation: y=_ Function: Yes or No Equation: y= Function: Yes or No Equation: y=_ Function: Yes or No…

A: Graph Equation Explanation y=x2x≥00x<0 y0=0y1=1y2=4 And parabolic y=-x y0=0y1=-1y4=-2…

Q: Write an equation for the line graphed below -6 -5 -4 -3 -2 -1 In 5 4 3 2- 14 -1- -2 -B- -4 -5 -6 y…

A: The given graph is straight line. The equation of a straight line with slope m and y-intercept c…

Q: Graph the line with slope passing through the point (-4, – 5). 4- -10 4. 6 10

Q: What is the domain, range, x-intercept, y-intercept, and slope of the attached table?

A: Consider the given table as shown below :

Q: Graph the line x=−8

A: Draw a line parallel to y axis on left side of origin

Q: graph the line y=4

A: Consider the given line.

Q: Graph the line given the point (1, 5) and the slope m = −2

Q: Graph the equation y=-x

A: The equation y = - x says that the resultant value is a negative sign of the input value.

Q: Graph the line. 3

A: Topic = Geometry

Q: Make a table of values and sketch the graph of the equation y=- x2+4. You must show the table and…

A: Make a table of values and sketch the graph of the equation y=-x2+4 .

Question

Please answer all the questions and include the graphs and tables.

Price
Total cost
Quantity
(tickets
per show)
Big Top is the only circus in the nation. The table
(dollars per
ticket)
(dollars per
show)
sets out the demand schedule for circus tickets
and the cost schedule for producing the circus.
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
20
1,000
1,600
2,200
2,800
3,400
4,000
4,600
5,200
5,800
а.
18
100
16
200
14
300
12
400
total revenue.
10
500
600
b. When Big Top maximizes profit, what is
consumer surplus and producer
surplus and is the circus efficient? Explain
why or why not. You are constructing a table showing total revenue and
marginal revenue. You are also constructing a graph to show consumer surplus
and producer surplus
the
700
4
800
At the market equilibrium, no children under 10 years old attend the circus. Big
Top offers children under 10 a discount of 50 percent. How will this discount
change the consumer surplus and producer surplus? Will Big Top be more
efficient by offering the discount to children? No graph is needed just an
explanation.
d. If Big Top is regulated to produce the efficient output, what is the quantity of
tickets sold, what is the price of a ticket, and what would be the consumer
surplus? No graph is needed, just an explanation with a calculation of consumer
surplus
If Big Top is regulated to charge a price equal to average total cost, what is the quantity of
tickets sold, the price of a ticket, and economic profit? You need a graph showing price, MC
and AC. You need a graph and you have to show deadweight loss
f. Draw a graph to illustrate the circus market if regulators set a price cap that
enables Big Top to break even. Show the deadweight loss in your graph.
с.
е.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Assume that the number of defective basketballs produced is related by a linear equation to the total number produced. Suppose that 14 defective balls are produced in a lot of 400, and 19 defective balls are produced in a lot of 500. Find the number of defective balls produced in a lot of 675 balls.
Graph the line. y= -3x 8. Explination Check
state the domain of the following graph
Graph the line y=-1, y%3D
A survey was distributed to a group of people asking them how many times they had ordered takeout in the past week. They were also asked how much money they saved that week. The scatter plot displays the relationship between the data collected. the trend line goes through the points (1,230) and (3,190). What is the equation of the trend line. The equation should be in slope form. interpret the slope and y intercept in this context. predict the amount of money a person save when they order takeout 9 times.
what is the vertical intercept of (1,750) and (2,562.5)
1. Graph y = x and label it "Line A". 2. Graph y = -x+3 and label it "Line B". 3. Graph y=-3 and label it "Line C". %3D
The blue line is a called a line. The red line is called a line.
Please show all steps for a, b, c and d, with steps on how to do it on excel