QUESTION 3 If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, how much is the equilibrium price (P) and quantity (Q). O p-$1; Q-3. OP-$3;Q=1. O P=$1; Q=3.5. Op*-$3.5; Q=1.

QUESTION 3 If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, how much is the equilibrium price (P) and quantity (Q). O p-$1; Q-3. OP-$3;Q=1. O P=$1; Q=3.5. Op*-$3.5; Q=1.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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