Knoebels Amusement Park in Elysburg, Pennsylvania, charges a lumpsum fee, L, to enter its Crystal Pool. It also charges p per trip down a slide on the pool's water slides. Suppose that 350 teenagers visit the park. each of whom has a demand function of q1 = 6 - p, and that 400 seniors also vist, each of whom has a demand function of q2 = 3 - p. Knoebels's objective is to set L and p so as to maximize its prot given that it has no (non-sun k) cost and must charge both groups the same prices. What are the gptimal L and p? The optimal L and p are L = $|:| and p = $|:|. (Enter numeric responses using reai numbers rounded to three decimai places.) Joe has just moved to a small town with only one golf course, the Northlands Golf Club. His inverse demand function is p = 200 - 2q, where q is the number of rounds of golf that he plays per year. The manager of the Northlands Club negotiates separately with each person who joins the club and can therefore charge individual prices. This manager has a good idea of what Joe's demand curve is and offers Joe a special deal. where Joe pays an annual membership fee and can play as many rounds as he wants at $20, which is the marginal cost his round imposes on the Club. What membership fee would maximize profit for the Club? The manager could have charged Joe a single price per round. How much extra prot does the Club earn by using twopart pricing? The protmaximizing membership fee (F) is $|:|. {Enter your response as a whole number.) Suppose there are two customers (or types of customers). The table below shows the willingness of each customer to pay for each service or a bundle. Assume the marginal and average costs of selling one more service to a customer are virtually zero (such that the firm attempts to maximize revenue). Explain why the rm does not use mixed bundling. Throughout, if consumers are indifferent between purchases. then assume they make the purchase that benets the rm. First, let consumer valuations be positvely correlated. Internet Television Bundle Consumer 1 $110 $90 $200 Consumer 2 $100 $35 $135 Prot-maximizing price $100 90 $135 Prot from selling the goods at separate prices is \"separate = $|:|. prot from selling the goods at the bundled price is \"bundled = $D- and prot from selling the goods at the profit-maximizing separate prices and at the profit-maximizing bundled price is \"mixed = $|:|. (Enter numeric responses using integers.)