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Happy Cineplex sells movie tickets to two categories of people: adults and children. The demand functions for each of the market is as follows: P

Happy Cineplex sells movie tickets to two categories of people: adults and children. The demand functions for each of the market is as follows:

P₁ = 70 - 2Q₁ for adult market

P₂ = 50 - Q₂ for children market

The MC for both markets is RM10. What are the profit maximizing price, quantity and profit if Happy Cineplex charges different price in each market? Compare the profit if Happy Cineplex charges single price for all moviegoers.

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