Question: Problem 7.4. Joe Exotic from Problem 7.1 discovers that students can be easily identied by their college ID's, allowing him to segment the market for


Problem 7.4. Joe Exotic from Problem 7.1 discovers that students can be easily identied by their college ID's, allowing him to segment the market for his exotic animal park. The graphs below show student demand and nonstudent (\"other\") demand for visits to the park. Marginal cost is $30 per visitor. Students Others ($'."visit.1):| (3i Xvisiig 100 100 90 . . . . . Eli] so - - - - - so To - - - to so , - - - - - 6o 50 50 4|] 4'] 30 ' ' ' 3U 20 ' ' ' ' 20 10 ' ' 10 U 1 2 3 4 5 6 T 3 9 Visitors 0 .l 2 3 4 5 6 T" 8 9 Visitors (visitsfhour) (visits/'hour) (a) Draw the marginal cost curve in each graph. Also in each graph, mark the point that determines the profitmaximizing quantity with the letter A. (13-) Mark the pricediscriminating equilibrium with two points. Use 5 to mark the pricequantity pair for students and 0 for others. (c) The park charges college students 3 per visit and other people $ per visit
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