Use the table below to answer question. The table shows the demand schedule for tickets to watch amateur baseball games in a medium-sized town. The city provides the ballparks, and the players play for free, so the marginal cost of providing the games is zero. The city has authorized two companies to provide baseball games in two stadiums, and the public considers the games in each stadium to be equivalent. $12 11 10 9 8 7 6 5 4 3 2 1 0 Price 0 Ⓒd. 56; 1,200. Oe. $8; 800. 200 400 600 800 1,000 1.200 1,400 1,600 1,800 2,000 2,200 2,400 Quantity Under competition, the price and quantity in this market would be O a. 50; 2,400. O b. $2; 2,000. O c. $4; 1,600.
Use the table below to answer question. The table shows the demand schedule for tickets to watch amateur baseball games in a medium-sized town. The city provides the ballparks, and the players play for free, so the marginal cost of providing the games is zero. The city has authorized two companies to provide baseball games in two stadiums, and the public considers the games in each stadium to be equivalent. $12 11 10 9 8 7 6 5 4 3 2 1 0 Price 0 Ⓒd. 56; 1,200. Oe. $8; 800. 200 400 600 800 1,000 1.200 1,400 1,600 1,800 2,000 2,200 2,400 Quantity Under competition, the price and quantity in this market would be O a. 50; 2,400. O b. $2; 2,000. O c. $4; 1,600.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Use the table below to answer question. The table shows the demand schedule for tickets to watch amateur baseball games in a medium-sized town. The city provides the ballparks, and the players play for free, so the marginal cost of providing the games is zero. The city has authorized two companies to provide baseball games in two stadiums, and the public considers the games in each stadium to be equivalent.
Under competition, the price and quantity in this market would be
a. $0; 2,400.
b. $2; 2,000.
c. $4; 1,600.
d. $6; 1,200.
e. $8; 800
Transcribed Image Text:Use the table below to answer question. The table shows the demand schedule for tickets to watch amateur baseball games in a medium-sized town. The city provides the ballparks, and the players play for free, so the marginal cost of
providing the games is zero. The city has authorized two companies to provide baseball games in two stadiums, and the public considers the games in each stadium to be equivalent.
$12
11
10
9
8
7
6
5
4
3
2
1
0
Price
c. $4; 1,600. X
d. $6; 1,200.
0
O e. $8; 800.
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Under competition, the price and quantity in this market would be
O a. $0; 2,400.
O b. $2; 2,000.
Quantity
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