Many companies offer discounts to students, military, and teachers. New Balance is one such company. Below are demand and marginal revenue equations for a pair of New Balance 580 shoes for two groups of consumers. Calculate the (1) priceeach groupwill pay for a pair of these New Balance shoes and (2) what percentage discount students receive. Please show your work.

Full price consumers:

P=160-Q

MR = 80-Q

Students:

P=100- Q

MR = 55 - Q

For both groups:

MC = 50