Business, 26.02.2020 05:17, blazecarley
Magine you are asked to help with football tickets for the Cougars next season. You need to set the price for student tickets and non-student tickets. You are given the following demand curves for students (s) and non-students (ns): Qs = 50 − 4Ps + Pns Qns = 100 − 2Pns + Ps Assume the marginal cost for all tickets is $10.
(a) What should you set the student ticket price to if you want to maximize profit (hint: You won’t get a number; it will be a function of Pns)?
(b) What should you set the non-student ticket price to if you want to maximize profit (hint: You won’t get a number; it will be a function of Ps)?
(c) Using the equations above, solve for the numerical profit-maximizing price for each group. Round to two decimal places. You do not need to find the profit.
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Magine you are asked to help with football tickets for the Cougars next season. You need to set the...
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