Orsell events llc conducts a 10k event every year the, Ask an Expert

Economics

Orsell Events, LLC conducts a 10K event every year. The registration fee to join is $35. Currently 1,000 individuals run the race. Those who join 10Ks become healthier and save trips and spending at the doctor's clinic and possible hospital confinement. The higher social demand curve for the 10K event estimates that this benefit should spread out to more people and that 2,000 should join. However for this to happen and gain this double participation, registration has to drop to $28 per participant. The local Health Department is willing to subsidize Orsell Events for this to happen. What is the total amount of subsidy equal to? a. $14,000 b. $7,000 c. $28,000 d. $56,000 e. none of the above

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92201972

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