QUESTION 3 If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, how much is the equilibrium price (P) and quantity (Q). O p-$1; Q-3. OP-$3;Q=1. O P=$1; Q=3.5. Op*-$3.5; Q=1.

QUESTION 3 If an amusement park decides to apply two-part tariff rule to set price, given the demand equation P-6-2.5Q and MC =$1, how much is the equilibrium price (P) and quantity (Q). O p-$1; Q-3. OP-$3;Q=1. O P=$1; Q=3.5. Op*-$3.5; Q=1.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter1: Introduction And Goals Of The Firm

Section: Chapter Questions

Problem 2.3CE

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