Number fielsu.edu/mod/quiz/ attempt.php? attempt=44064168(cmid=17326428page=6 Sign in My Courses At baseball games, the following two markets for hot dogs develop around the stadium. First, numerous sellers of hot dogs converge outside the stadium and offer their hotdogs for sale. Yelling and dealing, the sellers are relatively easy to see, and prices are easy to identify. Additionally, the City requires only a small health permit fee, allowing for easy entry into the market. The supply and demand functions in this market are characterized by: Supply : P=0.4+ 3 1000 Demand : P=2-- q 1000 Marginal Revenue : MR =2-- b 500 (a) First, identify the market structures outside stadium. (b) What equilibrium quantity is sold in the outside market? (c) At what price? However, once entering the stadium, there is only one hot dog supplier who has signed a contract with the Braves team. In this e left 1:23:46 It, the demand faced by the providers of hot dogs is the same as above (the same people are buying hot dogs inside and O Search a Mostly cloudy hpA Sign in However, once entering the stadium, there is only one hot dog supplier who has signed a contract with the Braves team. In this market, the demand faced by the providers of hot dogs is the same as above (the same people are buying hot dogs inside and outside the stadium with undiminished demand). However, individuals cannot leave the stadium and re-enter. The marginal cost structure for inside stadium provider is characterized by: Marginal Cost inside stadium : Mc=0.4+ _ 10009 d) What is the market structure inside stadium. (e) What equilibrium quantity is sold in the outside market? (f) At what price? Previous page Finish attempt .. Quiz navigation eft 1:22:55 1 2 3 4 5 6 O Search a P tly cloudy hp