What is the maximum profit the owner can make? what is the, Ask an Expert

Economics

A cinema hall has a capacity of 150 seats. The owner can offer students a discount on the price when they show their student IDs. The demand for tickets from students is Ds = 220 - 40Ps;

where Ps is the price of tickets for students after the discount.

The demand for tickets for non-students is Dn = 140 - 20Pn;

where Pn is the price of tickets for non-students.

i. What is the maximum prot the owner can make?
ii. What is the maximum prot he could make if the demand functions of students and non-students were interchanged?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M938250

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