Dax Trujillo owns the Fort Mac Inferno, A professional Math team. Each time the team plays in Inferno Stadium it costs Dax $174,000 for rent, staffing, stadium preparation, etc. Current ticket prices for a Inferno home game are $27 per ticket, and an average game draws 5580 fans which is only 31% the Stadium's capacity. Since Dax studied economics he knows that the market for Math games in Fort Mac is not at equilibrium. Ticket Price 36- 34- 32- 26- 3200 4800 6400 Number of Tickets Sold 8000 USE CHART ABOVE AND TABLE BELOW TO ANSWER FOLLOWING QUESTIONS.(3 Points) What is the Equilibrium Price? What is the Equilibrium Quantity? What needs to occur for equilibrium to be reached(ref question for current situation)? Price Decreases, Quantity Demanded Decrease O Price Decreases.No Change in Quanitity Demanded No Change in Price, Quantity Demanded Decrease Price Increases, Quantity Supplied Increases TABLE 1: Fill out the table (9 Points) Ticket Quantity demanded Quantity Supplied Price Elasticity of Demand (No Neg. Numbers) (From Prev. Price) Elasticity USE (I for Inelastic, U for Unit E for Elastic) 26 8280 4058 27 7380 4214 28 6480 4370 29 5580 4526 30 4680 4680 31 3780 4838 32 2880 4994 Indicate the change in price and quantity for the shown event in bold. (6 Points) The price of Rugby has dropped, Rugby are considered a substitute good. Quantity: O Uncertain Unchanged Price: Decrease Increase Uncertain Decrease 0 0 Increase Unchanged The median income in Fort Mac is higher, Inferno tickets are considered a normal good. Quantity: O Decrease O Uncertain Price: Increase Uncertain 00 0 0 Increase Unchanged Unchanged Decrease An