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micro economics question 3. Suppose Aggie World is an amusement park that has the following inverse demand for its rides: p(y) =50 - 5y The

micro economics question

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3. Suppose Aggie World is an amusement park that has the following inverse demand for its rides: p(y) =50 - 5y The marginal cost of each ride is $10 The amusement park is currently charging $15 per unit (ride) and a $50 admission fee. How should the amusement park change its pricing strategy in order to increase profits? That is, what price should it charge per ride and what should the admission fee be? (20 points)

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