(Answered) The demand function for tickets at a stadium is given by dp

Management Studies

The demand function for tickets at a stadium is given by D(p) = 200, 000 - 10, 000p. The stadium can hold 100,000 spectators.

(a) Write down the inverse demand function.

(b) Write down the expressions for total revenue and marginal revenue as a function of the number of tickets sold.

(d) At this quantity, what is marginal revenue? At this quantity, what is the price elasticity of demand? Will the stadium be full?

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