Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 30 Sep 2017 My Price 6.00

local space museum

7–2. The local space museum has hired you to assist them in setting admission prices. The mu- seum’s managers recognize that there are two distinct demand curves for admission. One demand curve applies to people ages 12 to 64, whereas the other is for children and senior citizens. The two demand curves are

PA = 9.6 - 0.08QA

PCS = 4 - 0.05QCS

 

where PA is the adult price, PCS is the child/senior citizen price, QA  is the adult quantity, and QCS is the child/senior citizen quantity. Crowding is not a problem at the museum, and so managers consider marginal cost to be zero.

a.   What price should they charge to each group to maximize profits?

b.   How many adults will visit the museum? How many children and senior citizens?

c.   What are the museum’s profits?

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Sep 2017 12:09 PM My Price 6.00

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