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QUESTION 2 [25 Marks] The Rogers Centre (or The SkyDome for nostalgic Torontonians), home to the Toronto Blue Jays, has a 50,000 seats capacity for
QUESTION 2 [25 Marks] The Rogers Centre (or "The SkyDome" for nostalgic Torontonians), home to the Toronto Blue Jays, has a 50,000 seats capacity for baseball games. The Blue Jays started welcoming fans at full capacity in 2022 after two years of disruptions caused by the pandemic. TORONTO STAR BLUE JAYS Blue Jays ready to welcome back 50,000 fans with new food, merch and giveaways Fans can look forward to new additions including a massive videoboard, overhauled LED lighting system, custom turf, craft beer, and giveaways. You have been hired as a consultant by the Blue Jays and you find that the demand for baseball tickets is given by: P= 130 - Q/500, where P is the price of a ticket and Q is the number of baseball tickets for a particular game. You also estimate that the marginal cost of admitting just one additional fan into the stadium is very close to zero. mc=0 Assume all seats in the stadium are identical and that there is a unique ticket price for each seat
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