7. Suppose demand for seats at football games is P  1900  (150)Q and supply is fixed at Q  90,000 seats.

a. Find the equilibrium price and quantity of seats for a football game (using algebra and a graph).

b. Suppose the government prohibits tickets scalping (selling tickets above their face value), and the face value of tickets is $50 (this policy places a price ceiling at $50). How many consumers will be dissatisfied (how large is excess demand)?

c. Suppose the next game is a major rivalry, and so demand jumps to P  2100 

(150)Q. How many consumers will be dissatisfied for the big game?

d. How do the distortions of this price ceiling differ from the more typical case of upward-sloping supply?