Knoebels Amusement Park in Elysburg, Pennsylvania, charges a lump-sum 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 350 seniors also vist, each of whom has a demand function of _q2 = 5 - p. Knoebels's objective is to set L and p so as to maximize its profit given that it has no (non-sunk) cost and must charge both groups the same prices.What are the optimal L and p LOADING...?

The optimal L and p are

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