Draw the market demand curve faced by this monopolist

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Reference no: EM131072387

A concert organizer is preparing for the arrival of the Grateful Living band in his small town. He knows he has two types of concert goers: one group of 40 people, each willing to spend $60 on the concert, and another group of 70 people, each willing to spend $40. His total costs are purely fixed at $3,500.

(a) Draw the market demand curve faced by this monopolist.

(b) Draw the MR and MC curves.

(d) If he must charge a single price for all tickets can he make a profit?

Reference no: EM131072387

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