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Question 2 [33 points] The following table outlines the demand for Frank's Theatre. Frank's Theatre attracts two different groups of customers: teenagers and parents with

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Question 2 [33 points] The following table outlines the demand for Frank's Theatre. Frank's Theatre attracts two different groups of customers: teenagers and parents with small children. a) Fill in the total revenues for the various demand schedules in the table. Teenagers Teenagers Parents Parents Both Admission Quantity Total Quantity Total Total Price Demanded Revenue Demanded Revenue Revenue 100 154 190 18 214 31 230 48 240 70 246 99 250 137 b) If Frank's Theatre were to charge a single price and wants to maximize their total revenue, what price should be charged and what would the total revenue be? Price = $0 Total Revenue = $0 c) Now, if Frank's Theatre was able to price discriminate between the two groups and charge different prices to each, what would they charge each, and what would the new total revenue be? Price to Teenagers = $0 Price to Parents = $0 Total Revenue =$0

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