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Refer to scenario 1 at the profit maximizing level of

Scenario 1

The Spoiled Bats are the only professional baseball team within several hundred kilometres. The marginal cost of admitting another fan is $1. Fixed costs, which include players' salaries, are $100,000. The linear demand curve is given by:

P = 10 - 0.002 Q

1. Refer to Scenario 1. At the profit maximizing level of output, what is the deadweight loss?

a. 5062.5

b. 10125

c. 15187.5

d. 24750

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