1. The markup pricing of the product practiced by a monopolist use the markup equal to 'price markup' also known as Lerner index. True or False? Explain your answer 2. I Miron Floren. of Lawrence Welk Show fame. now tours the country periorming at accordion concerts. Acereful analysis of demand for tickets to Mr. Floren's concerts reveals a strange segmentation in the market. Demand for tickets by senior citizens is described by 00 = SOUP3'2 while demand by those under 65 years old is 0y = EDP5. If the marginal cost 0'! a ticket Is 53. how should tickets to MI: Floren's concerts be priced to maximize prots? $15 for seniorcitizene and $4.50 formoee younger, Explain your answer $4.33 for all tickets. ' $9 for senior citizens and $3.75 for those younger. 3 for senior citizens and $10 for those younger. $6 for senior citizens and $12 for those younger