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A market analysis conducted by SUNY Canton suggests the following market demand and marginal revenue relations:

Public Demand: P_PU = 225 - 0.005Q_PU and MR_PU = 225 - 0.01Q_PU

Student Demand: P_ST = 150 - 0.01Q_ST and MR_ST = 150 - 0.02Q_ST

Total fixed cost, marginal cost and total variable functions are, respectively:

TFC=$1,500,000 and MC_PU = MC_ST=$25

TVC=(MC_PU * Q_PU) + (MC_ST*Q_ST)

1. Calculate the profit-maximizing equilibrium price and quantity in each market segment.

Answer:

2. Calculate the total revenue, total cost, and total profit.

Answer: