A museum asked you to help them price their tickets. They have two types of consumers: students and non-students. The inverse demand from students is s = 10 s. The demand from non-students is ns = 20 ns. The museum has a marginal cost of zero.

a. Suppose the museum can charge different prices to students and non-students. What prices should it charge to maximize profits? [8 points]

b. What are the demand elasticities in each market at the optimal prices? Briefly explain. [8 points]

c. Calculate the deadweight loss among students and non-students. [6 points]

d. Suppose the museum does not allow you to charge different prices from students and non-students. What price should the museum charge to maximize profits? [8 points]