The local economists estimate that y is equal to 12000 and, Econometrics

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The local economists estimate that y is equal to 12000 and

Monopoly Rinks is the only ice skating facility in Mapleville. The next closest rink is about 100 miles away. It has determined that its demand curve is

Q = 123 - 0.5P - 0.25 Pc + .01 Y

where Q is the quantity of seasonal passes sold, P is the price for seasonal pass, Pc is the average price for concession items, and Y is average per capital income in Mapleville.

The local economists estimate that Y is equal to $12,000 and Monopoly has set Pc at $10. If Monopoly's MC of serving another customer is equal to $1, what is the profit maximizing price for seasonal passes?

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Econometrics: The local economists estimate that y is equal to 12000 and

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Econometrics: The local economists estimate that y is equal to 12000 and

Reference No:- TGS0569508

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Econometrics: The local economists estimate that y is equal to 12000 and

Reference No:- TGS0569508

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