Let's calculate the prot from price discrimination. The average daily demand for dinners at Paradise Grille, an upscale casual restaurant, is as follows: Demand for dinners by senior citizens: P = 50 % X Q and the marginal revenue is MR = 50 Q. Demand for dinners by others: P = 100 Q and the marginal revenue is MR = 100 2 X Q. Marginal cost equals $10 in both cases. When applicable, round answers to two places after the decimal and assume that dinners can be bought and sold infractions of meals. 3. Calculate the prot-maximizing price for senior citizens and others. Senior's prot maximizing price: $ :| Other's prot maximizing price: $ :| b. Translate this into real-world jargon. What is the "senior citizen discount" ? discount: c. Ignoring fixed costs, what is Paradise Grille's profit if it price discriminates? profit: $d. If it became illegal to discriminate on the basis of age, you would face only one demand curve. Adding up these two demand curves turns out to yield a demand curve P = 67 - 2 x Q and a marginal revenue MR = 67 - 2 X Q. What is the optimal price and quantity when facing the single demand curve? optimal price: $ optimal quantity: dinners e. How much profit is earned in the discrimination-free market? profit: $