If a City has a public park and the annual demand for picnics at the city owned park is

Q_D = 10 - 3P (18 Points)

(in this example, if the price of renting the park was $1, the demand would be 7, such that Q = 10 - 3($1) = 7)this mentioned to offer context.

1. If the use of the park for a picnic is free, how many picnics will be held at the park annually?

(6 Points)

1. How much is the consumer surplus created in question #5a? (4 Points)

1. You hired as a consultant and determine that the efficient capacity of the park is 4 picnics annually, how much would you charge to achieve this goal?(5 Points)

1. You how much is the consumer surplus created in question #5c? (3 Points)

1. Given the answer from #5c, how much fee revenue is raised by the park? (3 Points)