Appraise the welfare effects of these two policies with suitable theme-mark market diagrams.
Learning Goal: I’m working on a economics question and need guidance to help me learn.The availability of alternative entertainment methods has resulted in a large decrease in theme-park visitors. To help the theme-park operators, the government is contemplating imposing a price floor for theme-park tickets or provide a subsidy to theme park visitors. Appraise the welfare effects of these two policies with suitable theme-mark market diagrams. Your diagrams should take into consideration of the price elasticity of demand and supply of theme-park in generalGuide Attached
Requirements: 4 page