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Required: The Market for NCAA Hockey [50 points] The UNO Mavericks are the only NCAA Hockey teamn serving the entire Eastern Nebraska arvea. If the
Required: The Market for NCAA Hockey [50 points] The UNO Mavericks are the only NCAA Hockey teamn serving the entire Eastern Nebraska arvea. If the UNL Huskers started a team to compete with Omaha, assume that both teams would serve the market equally (we all know UNQ is better, but we can pretend). The inverse-demand for college hockey games in Eastern Nebraska has been estimated as P = 95 1/4Q where @ is the total number of tickets in the market. The cost of running a team is 1000 - 5@ per game. 1. If the Mavericks are the only team in the area, what is their profit maximizing price and quantity? How much profit will they earn each game? e @l 2, If the Huskers do decide to field a team, they will compete with the Mavericks as a duopoly (where @ = q + q2). What is the resulting price, quantity, and profit for each team? @ 3. Considering all the college and professional sports teams in Nebraska, graphically show a profit-earning monopolistically competitive team. What will happen to team profits in the long-run
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