The theater tickets for Lion King in London is determined by The price is measured in GBP (pound). a. b. C. the monthly supply curve of Od =21,000 - 600*P and the monthly demand curve of Os= 100*P. d. Suppose the market is an unregulated free market, please find the equilibrium price of the ticket and quantity sold out. If the local Theater Association decides to put up a price ceiling of 20 GBP so as to attract more foreign travelers into the theater, how will this policy impact on the show market? Is it binding or not? Is there going to be a surplus or shortage? As the Christmas holidays are approaching, the D curve in December is shifted to a new form of Qd = 21,000 - 200 P. What may be the reason for this shift of the D curve? If the Association now decides to put up a price floor of 55 GBP, how will this policy affect the market? Is it binding or not? If instead of local audience, the Association is now targeting foreign tourists in December, hoping to attract 1,000 more tourists into the theaters, what policy may help them?

The theater tickets for Lion King in London is determined by The price is measured in GBP (pound). a. b. C. the monthly supply curve of Od =21,000 - 600P and the monthly demand curve of Os= 100P. d. Suppose the market is an unregulated free market, please find the equilibrium price of the ticket and quantity sold out. If the local Theater Association decides to put up a price ceiling of 20 GBP so as to attract more foreign travelers into the theater, how will this policy impact on the show market? Is it binding or not? Is there going to be a surplus or shortage? As the Christmas holidays are approaching, the D curve in December is shifted to a new form of Qd = 21,000 - 200 P. What may be the reason for this shift of the D curve? If the Association now decides to put up a price floor of 55 GBP, how will this policy affect the market? Is it binding or not? If instead of local audience, the Association is now targeting foreign tourists in December, hoping to attract 1,000 more tourists into the theaters, what policy may help them?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer both subparts with explanation. I will really upvote