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Need help with the following Sports Economics questions 1. Research indicate EPL teams generate some of their revenue from ticket receipts, broadcasting rights, live streaming,

Need help with the following Sports Economics questions

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1. Research indicate EPL teams generate some of their revenue from ticket receipts, broadcasting rights, live streaming, luxury boxes, concession, naming rights and transfers from other teams in the league. Using a graph with attendance on the horizontal axis and the price of tickets on the vertical axis show the effect of the following on demand for stadium attendance. In each case, show a supply and demand graph, with the appropriate shift of the correct curve and briefly explain your reasoning. a. Ticket prices increase. b. One of the teams acquire a bigger stadium. c. A week after Leeds United played Aston Villa they played Man United. The next weekend they played against Crystal Palace. 2. Is the following statement true or false? Explain your reasoning. "An NFL team decides to stay in a given city, so the opportunity cost of not moving to another city is zero." 3. When COVID-19 pandemic started, EPL live match attendance levels suffered until now that the levels has rebounded. Use the supply and demand model to explain why this may have occurred, include a graph in your analysis. 4. A championship team charges $1.50 per match day programme and sells 1,000,000 of them over the course of the season. The next season, the club increase the price to f2.50 and sell 800,000 match day programmes. a) What is the elasticity of demand for match day programmes? b) Assuming the marginal cost of admitting one more fan is zero, is the price increase a good idea?5. Each team in the proposed European Super League has a demand curve to advertise the new league as Q = 1200-2p, where p is in thousands of pounds. Given the number of teams in the proposed league is fifteen, and ads cost $600 thousand each, how many ads will the teams want to purchase as a group? 6. For a sports team, what might the shape of the marginal cost curve be? Why does it have this shape

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