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, 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.