Martha National County Club is a golf club in an isolated wealthy community and accepts only females as members. There are 1,000 identical female members of the club and a typical member has a yearly demand for rounds of golf expressed as: P = 150 - Q , in which Q is the number of rounds of golf per year at a green fee of P per round. This year, Martha has priced its annual membership fee at $7,000 and its green fee at $30 per round of golf. (Green fee includes caddie/buggy fee as well.) It costs Martha a constant $25 to provide a round of golf for each member. Martha's annual fixed cost of running the club is $1,000,000. (1) Martha is now contemplating lowering its annual membership fee to $6,500 for the next year while raising its green fee to $40. The club's Board feels that the 1,000 members would still be interested in maintaining their memberships at Martha next year if the price is right and that their demand will be the same as this year's. When it prices the club's yearly membership and green fees for the next year, should Martha continue with its current pricing scheme or switch to the new one? (2) The community has another 1,000 identical male golfers whose individual yearly demand for golf rounds is known to be P = 100 - Q , but the female-only policy at Martha is forcing the male golfers to drive 100 km to a neighbor town to play golf. There have been rallies for years led by Mr. Hootie, the chairman of The Community Council of Men's Organizations, during the week of the major club championship tournament 'The Mistresses' hosted by Martha National C.C., and the club was urged to change its malediscriminating policy. A board member Ms. Burks at Marta National this year proposed an idea: "Let's erase the female-only clause from our Club Charter. Still, we can keep men away if we set the membership and green fees smart so that they don't have an incentive to join." What yearly membership and per-round green fee would Martha National C.C. have to charge to successfully exclude male golfers while trying to make as much profits as possible from the female golfers? Assume that a gender-specific pricing scheme will bring about more serious petitions and therefore every member should be charged the same set of membership and perround green fees. (3) Suppose Martha National is a profit-maximizer. Would you recommend Martha National to cater to both female and male golfers or to serve females only, with each option's best possible membership/green fee policy being considered? Quantify your answers. Assume again that every member should be charged the same set of membership and per-round green fees.