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Assume, that the demand for the Giants game is Q = 80,000-400P.
a) Assume the stadium capacity of 30,000. What is the monopolistic outcome (price and quantity)? Marginal revenue: MR = 200 - Q/200. Please demonstrate on the graph.
b) What is the perfectly competitive outcome (price and quantity)? What are the dead weight losses generated by the monopoly in part a?
c) Assume, that the team moved to a bigger stadium with the capacity 50,000 spectators (the demand remains the same). Find the monopolistic outcome (price and quantity) and the dead weight losses.
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