60 50 40 30 Comerica Park: 42,000 Capacity MC DL DH

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 13CQ: Suppose Erin, the owner-manager of a local hotel projects the following demand for her rooms: a....
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I
60
50
40
30
20
10
Comerica Park: 42,000 Capacity
10000 20000
30000
MC
40000
DL
DH
MRL MRH
MRL and DL are for low-demand games. MRH and DH are for high-demand games.
Based on the graph above, what is the total revenue for both games (high and low demand games) if the price is set at the high-
demand price level?
Transcribed Image Text:I 60 50 40 30 20 10 Comerica Park: 42,000 Capacity 10000 20000 30000 MC 40000 DL DH MRL MRH MRL and DL are for low-demand games. MRH and DH are for high-demand games. Based on the graph above, what is the total revenue for both games (high and low demand games) if the price is set at the high- demand price level?
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