Happyland is the only theme park in the nation. The table sets out the demand schedule for the theme park passes and the cost schedule for running the theme park. Calculate Happyland's profit max price, output and economic profit if it charges a single price for all passes.
Price $/pass Quantity#passes/day Total cost $/day
20 0 1,000
18 100 2,000
16 200 3,000
14 300 4,000
12 400 5,000
10 500 6,000
8 600 7,000
6 700 8,000
4 800 9,000
Happyland's profit max ouput is ___passes a day
Happyland's profit max price is ____a pass
I am not sure where to start. Our economics class was conceled today due to snow and this is our homework that is due tonight