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A movie theater has found that they can easily separate their customers into two categories, and they can charge different prices for each group. The two groups are "Senior Citizens" and "non-Senior Citizens". The following demand and marginal cost curves apply to the theater:

Seniors Demand: Qd = 15 - 4P
(MR in this market is: MR = 3.75 - .5Q)
Non-Seniors Demand: Qd = 100 - P
(MR in this market is: MR = 100 - 2Q)
MC = 0

a. How many tickets does the theater sell to senior citizens?
b. What price is charged to the senior citizens?
c. How many tickets does the theater sell to non-senior citizens?
d. What price are non-senior citizens charged?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947123

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