Suppose the typical Buffalo Bills fan has the demand curve for Bills football games: p = 100
Question:
Suppose the typical Buffalo Bills fan has the demand curve for Bills football games:
p = 100 — 10G, where G is the number games the fan attends.
a. If the Bills operate in a perfectly competitive market and MC = 0, what are the equilibrium price and quantity of tickets?
b. Suppose the Bills are a monopoly and that marginal cost is the same as in part (a).
What are the equilibrium price and quantity (MR =100—20G). What are the equilibrium price and quantity if the Bills can perfectly price discriminate?
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a In a perfectly competitive market with MC 0 the equilibrium price and quantity are determined wher...View the full answer
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