Tickets cost $2627.25 for 3 tickets. How much does it cost for 2 tickets?

1751.5

Step-by-step explanation:

2627.25 divided by 3 = 875.75

875.75 = 1

875.875 x2 = 1751.50

Part a:  What will be the equilabrium price that Dumphy and Funke will charge?

Price charged = $30

Part b: What are the profits for Dumphy and Funke at the equilibrium price?

Profit on equilibrium price = $0

Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?

Price competition

Explanation:

Part a:  What will be the equilabrium price that Dumphy and Funke will charge?

Price charged by each of the artists will be equal to their marginal cost.

Thus, equilibrium P = MC = $30.

Part b: What are the profits for Dumphy and Funke at the equilibrium price?

Equilibrium profits will be 0 at the equilibrium because price charged is equal to MC, leading to no profits.

Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?

Price competition - as changes in price will lead to changes in demand and thus sales