Suppose that the price of tickets to see your local football team play at home is determined by market forces. Currently, the demand and supply schedules are as follows: a. Draw the demand and supply...

Suppose that the price of tickets to see your local football

team play at home is determined by market forces.

Currently, the demand and supply schedules are as follows:

a. Draw the demand and supply curves. What is unusual

about this supply curve? Why might this be true?

b. What are the equilibrium price and quantity of tickets?

c. Your team plans to increase total capacity in its stadium

by 5000 seats next season. What admission price should

it charge?