1) Concert Series A symphony orchestra is preparing to stage a short concert series in Rochester....

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1) Concert Series A symphony orchestra is preparing to stage a short concert series in Rochester. The first concert consists of music by Berlioz and Tchaikovsky, while the second concert consists of music by Bartok and Stravinsky. The potential audience consists of four, equal-sized groups. Members of the first group, whose tastes tend to be romantic, would be willing to pay $120 for a ticket to the first concert and up to $60 for a ticket to the second concert. Mem- bers of the second group, whose tastes tend to be neo-classical, have the opposite preference: they would pay up to $60 for a ticket to the first concert and up to $120 for a ticket to the second concert. Members of the third group, confirmed Tchaikovsky lovers, would pay as much as $135 for a ticket to the first concert, but only $15 for a ticket to the second concert. Members of the last group, who pride themselves on their sophisticated taste, would pay as much as $135 for a ticket to the second concert, but only $15 for a ticket to the first concert. Willingness-to-pay of Concert Patrons Patron Type Berlioz/Tchaikovsky Bartok/Stravinsky Romantic 120 60 Neo-Classical 60 120 Tchaikovsky 135 15 Sophisticate 15 135 a) What is the maximum profit under pure components pricing? b) What is the maximum profit under pure bundling? c) What is the maximum profit under mixed bundling? 1) Concert Series A symphony orchestra is preparing to stage a short concert series in Rochester. The first concert consists of music by Berlioz and Tchaikovsky, while the second concert consists of music by Bartok and Stravinsky. The potential audience consists of four, equal-sized groups. Members of the first group, whose tastes tend to be romantic, would be willing to pay $120 for a ticket to the first concert and up to $60 for a ticket to the second concert. Mem- bers of the second group, whose tastes tend to be neo-classical, have the opposite preference: they would pay up to $60 for a ticket to the first concert and up to $120 for a ticket to the second concert. Members of the third group, confirmed Tchaikovsky lovers, would pay as much as $135 for a ticket to the first concert, but only $15 for a ticket to the second concert. Members of the last group, who pride themselves on their sophisticated taste, would pay as much as $135 for a ticket to the second concert, but only $15 for a ticket to the first concert. Willingness-to-pay of Concert Patrons Patron Type Berlioz/Tchaikovsky Bartok/Stravinsky Romantic 120 60 Neo-Classical 60 120 Tchaikovsky 135 15 Sophisticate 15 135 a) What is the maximum profit under pure components pricing? b) What is the maximum profit under pure bundling? c) What is the maximum profit under mixed bundling?