Mathematical solution) The demand schedules presented in Problem 2 can be expressed in equation form as follows (where subscript A refers to the adult market, subscript C to the market for children, and subscript T to the markets combined) QA 20 PA QC 30 2PC QT 50 3PT Solve these equations for the maximum profit that the amusement park will attain when it charges different prices in the two markets and when it charges a single price for the combined market

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Question: Mathematical solution) The demand schedules presented in Problem 2 can be expressed in equation form as follows (where subscript A refers to the adult market,

Mathematical solution) The demand schedules presented in Problem 2 can be expressed in equation form as follows (where subscript A refers to the adult market, subscript C to the market for children, and subscript T to the markets combined)

QA = 20 - PA QC = 30 - 2PC QT = 50 - 3PT

Solve these equations for the maximum profit that the amusement park will attain when it charges different prices in the two markets and when it charges a single price for the combined market.

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