Problem 7.1. The Garold Wayne Exotic Animal Memorial Park (aka GW Zoo) Twas a oneofakind park run by charismatic tiger breeder Joe Exotic. The table and graph below present hourly demand for visits to the park in 2005. Because the park had no competitors, the owner could set the number of tickets per day as a monopolist. Marginal (SB/Vang Quantity Price Revenue Revenue 100 [visitorsfhou [5fvlsitor} [5fhour] [5 fvlsito-r) 90 so {I 100 _ - m 2 80 so 4 60 50 6 40 4o 8 20 so 10 c 20 ll] D l 2 3 4 5 '5 7 8 9 Visitors (visits/hour) (a) Calculate the park's revenue at each ticket quantity, and record the values in the table's third column. (b) By comparing revenue across rows, compute marginal revenue. (Don't forget the denominator A Q in computing marginal revenue %.) (c) In the graph, plot the ve points that are the pairs of visitors and marginal revenue. Since marginal revenue is computed over the range from one quantity to another (e.g., from 2 to 4), use the midpoint (e.g.1 3) between the starting and ending quantities for the number of visitors on the horizontal axis. (d) At each quantity, marginal revenue is \\:| greater than D less than C, equal to l the price of admis- sion to the park