Question
Hello , please help with this question on ECO202 ; Economics Ideas and Models for Business . Thank you ! (b) The availability of alternative
Hello , please help with this question on ECO202 ; Economics Ideas and Models for Business . Thank you !
(b) The availability of alternative entertainment methods has resulted in a large decrease in theme-park visitors. To help the theme-park operators, the government is contemplating imposing a price floor for theme-park tickets or provide a subsidy to theme park visitors. Appraise the welfare effects of these two policies with suitable theme-mark market diagrams. Your diagrams should take into consideration of the price elasticity of demand and supply of theme-park in general.
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