Question Three (3) Princess's monthly demand for visits to an amusement park is given by the following equation: Qad = 10-0.5 Pad where Qua is visits per month and Pad is dollars per visit. The amusement park marginal cost is fixed at $10 per visit. 1. Determine Princess's demand curve for amusement park visits per month. 2. Calculate how many visits Princess would make per month if the amusement park charged a price per visit equal to its marginal cost. 3. Calculate Princess's consumer surplus at the price determined in question two. 4. Calculate how much the amusement park could charge Princess each month for a membership fee. Question Four (4) A US company has revenue of $5.5 million and total costs of $7.5 million, which are or can be broken down into total fixed cost of $3 million and total variable cost of $4.5 million. The net loss on the firm's income statement is reported as $2,000,000 (ignoring tax implications). In prior periods, the firm had reported profits on its operations. 1. What decision should the firm make regarding operations over the short term? 2. What decision should the firm make regarding operations over the long term? 3. Assume the same business scenario except that revenue is now $5.0 million, and total costs of $7.5 million, which are or can be broken down into total fixed cost of $3 million and total variable cost of $4.5 million, which creates a net loss of $1.2 million. What decision should the firm make regarding operations in this case