# Question #2001257: Other Economics Problems

Question: An amusement park, whose customer set is made up of two markets, adults and adults and children, has developed demand schedules as follows:

Price ($) Adults Children 5 15 20 6 14 18 7 13 16 8 12 14 9 11 12 10 10 10 11 9 8 12 8 6 13 7 4 14 6 2 The marginal operating cost of each unit of quantity is$5. (Hint: because marg. cost is a constant, so is avg. variable cost. Ignore fixed cost.) The owners of the amusement park want to maximize profits.

Calculate the price, quantity, and profit if:

The amusement park charges the same price in the two markets combined.

Solution: The solution consists of 223 words (2 pages)
Deliverables: Word Document

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