1. A new movie theater has a monopoly on the rights to show movies in the town of Cyrgo. For its feature film of the week, it faces the following inverse demand schedules: General: PG : 16 qG Students: P3 : 10 9'33 The total cost of printing and selling tickets is C(Q) :QE, where Q : qG +q3. (a) How many tickets should the theater sell in each market? (b) What price should it charge in each market? (c) Calculate the price elasticity of demand in the two ticket markets. Discuss how elasticity determines which group is charged the higher price. (d) Use the price elasticity of demand calculated in (d) to determine how much the monopolist charges a mark-up over marginal cost to each group