Exercise 1. A Bus Lines company offers sightseeing tours of Siem Reap. One tour, priced at $14 per person, had an average demand of about 1000 customers per week. When the price (p) was lowered to $12, the weekly demand (9) jumped to around 1200 customers. Assume that the demand equation is linear. (a). Determine the equation of demand function p p(q). (b). Find the tour price that should be charged per person to maximize the total revenue each week. (c). Suppose the total cost function 1 -q2 + 1,000 dollars per week. 200 C(q) = = At which price level is the profit is maximized weekly? What is the maximum profit