(Solution Library) Explain the difference in the profit realized under the two situations. (Mathematical solution) The demand schedules presented in problem
Question: Explain the difference in the profit realized under the two situations.
- (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 the subscript T to the two markets combined):
Qa = 20 – 1Pa
Qc = 30 – 2Pc
Qt = 50 – 3Pt
Solve these equations for the max 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.
Deliverable: Word Document 
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