The buyers side of the market for laser tag tickets consists of two types of consumers who demand curves are shown below. 18 24 48 Tickets/yr Tickets/yr a. Graph the market demand curve on the graph below. Label everything (use units of 4 for the x-axis so it fits). Hint: It is helpful to determine the equations of the lines using y=mx+b for each so you can plug in prices and get quantities or plug in quantities and get price. b. Shade in the region that represents the total consumer surplus in the amusement park if tickets sell for $12 each. Price ($/ticket) Price ($/ticket)

The buyers side of the market for laser tag tickets consists of two types of consumers who demand curves are shown below. 18 24 48 Tickets/yr Tickets/yr a. Graph the market demand curve on the graph below. Label everything (use units of 4 for the x-axis so it fits). Hint: It is helpful to determine the equations of the lines using y=mx+b for each so you can plug in prices and get quantities or plug in quantities and get price. b. Shade in the region that represents the total consumer surplus in the amusement park if tickets sell for $12 each. Price ($/ticket) Price ($/ticket)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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