If Big Top is regulated to charge a price equal to average total cost, what is the

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If Big Top is regulated to charge a price equal to average total cost, what is the quantity of tickets sold, the price of a ticket, and economic profit?

Big Top is the only circus in the nation. The table sets out the demand schedule for circus tickets and the cost schedule for producing the circus.

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Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Jan 04, 2023 03:45 AM

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If Big Top is regulated to charge a price equal to average total cost, what is the

Question:

Price (dollars per ticket) 20 18 16 14 12 1986 10 4 Quantity (tickets per show) 0 100 200 300 400 500 600 700 800 Total cost (dollars per show) 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 5,800

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The quantity will be a bit more than 600 and the price will somewhat less than 8 ...View the full answer

Foundations Of Economics

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