6. You are the manager of Fun World, a small amusement park. The accompanying diagram shows the demand curve of a typical customer at Fun World Price of ride 10 20 Quantity of rides (per day) a. Suppose that the price of each ride is $5. At that price, how much consumer sur- plus does an individual consumer get? (Recall that the area of a right triangle is 12 . the height of the triangle . the base of the triangle.) b. Suppose that Fun World considers charging an admission fee, even though it maintains the price of each ride at $5. What is the maximum admission fee it could charge? (Assume that all potential customers have enough money to pay the fee.) C. Suppose that Fun World lowered the price of each ride to zero. How much consumer surplus does an individual consumer get? What is the maximum admission fee Fun World could charge 7. Suppose it is decided that rent control in New York City will be abolished and that market rents will now prevail. Assume that all rental units are identical and so are offered at the same rent. To address the plight of residents who may be unable to pay the market rent, an income supplement will be paid to all low-income households equal to the difference between the old controlled rent and the new market rent. a. Use a diagram to show the effect on the rental market of the elimination of rent control. What will happen to the quality and quantity of rental housing supplied? b. Use a second diagram to show the additional effect of the income-supplement policy on the market. What effect does it have on the market rent and quantity of rental housing supplied in comparison to your answers to part a?' C. Are tenants better or worse off as a result of these policies? Are landlords better or worse off? Is society as a whole better or worse off? d. From a political standpoint, why do you think cities have been more likely to resort to rent control rather than a policy of income supplements to help low- income people pay for housing? B. European governments tend to make greater use of price controls than does the U.S. government. For example, the French government sets minimum starting yearly wages for new hires who have completed le boc, certification roughly equivalent to a high school diploma. The demand schedule for new hires withle bac and the supply schedule for similarly credentialed new job seekers are given in the accompanying table. The price here-given in euros, the currency used in France-is the same as the yearly wage