Ryerson ECN 110 – Suppose the typical Buffalo Bills
Suppose the typical Buffalo Bills fan has the following demand curve for Bills football games: P = 100 – 10G where G is the number of games the fans 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 the marginal cost is the same as part (a), what are the equilibrium price and quantity of tickets? (MR = 100 â 20G)
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