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Hi, it would be appreciated if you share the answer with brief explanations. Thank you. Suppose that 'West Town' and 'East Town' are located in

Hi, it would be appreciated if you share the answer with brief explanations. Thank you.

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Suppose that 'West Town' and 'East Town' are located in the opposite sides of a mountain 'Bukit Alps' neither of which has other towns nearby. The weekly quantities demandedQn) for and suppliedth) of seats per showing of the movie 'A Beautiful Mind' in each town at various prices per seat are known to be the followings. (Note that neither the demand curve nor the supply curve In the towns is necessarily linear. Thus, don't even try to derive equations for the curves, which will only waste your \"use. Do the problems by thinking over the numbers given.) West Town East Town I} 0.0 0.5 750 400 700 550 600 600 550 650 500 700 430 730 400 800 200 900 The towns are of old style imagine a scene in the famous movie 'The Cinema Paradise' and the theater seats are prepared roughly on the ground whenever a new movie comes in. which may justify the upward-sloping supply schedule in case you wonder. Price discrimination is not considered for an option. (2) (5x2-10 marks) it has been well noticed by the government that the movie fans would be willing to travel to the other town as long as the price is attractive. (Assume that all the other transaction costs - such as time cost - are ignored for the movie trips.) To better serve their interest, the government has decided to build a subway through the mountain and run trains between the two towns at a fee of $2 per round trip. This has also made the price information public across the towns. Answer the following questions with a brief explanation. (i) How many moviegoers will make the trip from a town to the other each week and in which direction? (ii) What will be the new equilibrium ticket price and total number of mover-watchers in each town

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