Suppose that the demand curve for tickets to see a football team is given by Q = 100,000 - 100P and marginal cost is zero.
A. How many tickets would the team be able to sell (ignoring capacity constraints) if it behaved competitively and set p = MC?
B. How many tickets would it sell and what prices would it charge- if it behaved like a monopoly? (Hint: in this case the marginal revenue curve is given by MR = 1,000 - .02Q.)