Question 2. [9 points] A night-club owner has both student and adult customers. The demand for drinks by a typical student is 3:183P The demand for drinks by a typical adult is QA=102P There are equal numbers of students and adults. The marginal cost of each drink is $2. a) W What price will the club owner set if it is not possible to discriminate between the two groups? What will the total profit be at this price? If the club owner could separate the groups and practice third-degree price discrimination, what price per drink would be charged to members of each group? What would be the club owner's profit in this case? If the club owner can \"card\" patrons and determine who among them is a student and who is not. Suppose the owner applies the two-part pricing strategy. Thus, he decides to add an entry fee at the door while setting a new price for each drink. Calculate the optimal price per drink and the entry fee to the club? What would be the club owner's profit under this regime? What is the average price charged per drink to members of each group under the third-degree price discrimination? What is the average price charged per drink to members of each group under the two-part method of first-degree price discrimination? What can you say about this? Suppose now the owner applies the block-pricing strategy instead. The club owner bundles the quantity of drinks that he is willing to sell with the total charge wished to be set for that quantity. How much should the owner charge each group for the package that includes the entry fee and X units of drinks? Calculate the optimal quantity for each group. What would be the club owner's profit under this regime