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Refer to the diagram. If Happy Times Theater charges one price to day customers and another price to night customers, then the day price will
Refer to the diagram. If Happy Times Theater charges one price to day customers and another price to night customers, then the day price will be
DemandathappyTimesTheater
DemandathappyTimesTheater
TotalDemand:Q
t
=60060P
t
orP
t
=10.0167Q
t
TotalDemand:Qt=600-60PtorPt=10.0167Qt
Daytimedemand:Q
d
=30040P
d
orP
d
=7.5=.025Q
d
Daytimedemand:Qd=300-40PdorPd=7.5=.025Qd
Nighttimedemand:Q
n
=30020P
n
orP
n
=15.05Q
n
Nighttimedemand:Qn=30020PnorPn=15.05Qn
MC=5
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