Question
1.You have been tasked with estimating the demand function of ticket sales for the Columbus Crew (a regional monopoly). You found a demand function P
1.You have been tasked with estimating the demand function of ticket sales for the Columbus Crew (a regional monopoly). You found a demand function Pt = 10000 4Qt
(a)Draw the demand function
(b)Find and draw the Marginal Revenue function
(c)Assume the team wants to maximize revenue, what price should they charge for a ticket?
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
2nd Edition
0324113641, 9780324113648
