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Suppose that the demand curve for tickets to see a football team play a game is given by Q = 80,000 - 40P and marginal cost is zero. The team's stadium can host 75,000 fans.

i) How many tickets would the team sell if it behaved competitively? And what is the price of the ticket?

ii) How many tickets would it sell - and what price would it charge - if it behaved like a monopoly?

Business Economics, Economics

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