Assume the demand for tickets to a Blue Jays home game is given by P=72-1.5Q where Q is the number of tickets per home game (in thousands) and P is the average price (average revenue) per ticket (in dollars). Assume the marginal cost (MC) of another unit of Q (i.e. another thousand spectators attending a baseball game at the Rogers Centre) is $1.5 and the total fixed cost is $820 The capacity of the Rogers Centre is Q=50 (that is, 50,000 seats) for baseball. a. [1] Calculate the marginal revenue (MR) function. b. [4] Draw a diagram using the information above. Clearly label the demand curve and the marginal revenue curve, and the marginal cost curve in your diagram, as well as the axes. (Hint: marginal cost is the usual inverse L-shaped curve that goes vertical at capacity and is perfectly horizonal at less than capacity but not at 0.) - c. [1] What is the marginal analysis rule used by the monopoly Blue Jays team to identify the profit-maximizing number of tickets to sell? d. [1] Calculate the profit-maximizing number of tickets. e. [1] Is the team selling out its capacity of 50 seats (in thousands) when it maximizes profit? f. [2] What price per ticket should the team charge to maximize profits at the profit- maximizing number of tickets? g. [1] Calculate the profit (don't forget to include the total fixed costs). h. [3] Identify the consumer surplus earned by buyers of tickets in your diagram, show the formula used to calculate it and calculate it.