shapes of the Total, Average and Marginal Product curves in the short-run. 3.2. The stadium of the MANCOSA University has 30 seats. The demand curve for tickets has a price intercept of $36 and a quantity intercept of 72. 3.2.1. Draw the supply and demand curves to scale (in Excel and copy it to your word answer-This demand curve has the form P = 36-0.5xQ) 3.22. Determine the equilibrium admission price, and the amount of revenue generated from ticket sales for eacn game. 3.2.3. A local alumnus and benefactor offer to install 6 more seats at no cost to the University. Compute the price that would be charged with this new supply and compute the revenue that would accrue at this new equilibrium price. Should the University accept the offer to install the seats?

shapes of the Total, Average and Marginal Product curves in the short-run. 3.2. The stadium of the MANCOSA University has 30 seats. The demand curve for tickets has a price intercept of $36 and a quantity intercept of 72. 3.2.1. Draw the supply and demand curves to scale (in Excel and copy it to your word answer-This demand curve has the form P = 36-0.5xQ) 3.22. Determine the equilibrium admission price, and the amount of revenue generated from ticket sales for eacn game. 3.2.3. A local alumnus and benefactor offer to install 6 more seats at no cost to the University. Compute the price that would be charged with this new supply and compute the revenue that would accrue at this new equilibrium price. Should the University accept the offer to install the seats?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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