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