"Sun Shrim Fent S Voter & Q X 16.1: S Mon Ques S Lab 7 S Grad S In-Ck | Spide | SC Scop | F Lab-r | in Branc | # My C | + X C assessments.macmillanlearning.com/sac/4898723#/4898723/3/-1 Update : Apps YouTube 9 Maps M Gmail Looking for those o... Sp Make Images, Vide... image0.gif (112x112) Dank Memer CD5F40071 CE10F2... f May be an image o.. "> Reading list 4 of 12 Questions Assignment Score: 70.6% Resources [x Give Up ? ? Hint Resume 1 Question 0% Question 4 of 12 Question 0 of co Attempts Pricing Strategies for Firms with Market Power - End of Chapter Problem 2 Question 95% Promoters of a major college basketball tournament estimate that the demand for tickets on the part of adults is given by 2 of oo Attempts Correct Q = 5,000 - 10P 3 Question 74.5% 12 of oo Attempts correct and that the demand for tickets on the part of students is given by 4 Question 7.1% Q = 10,000 - 100P 1 of co Attempts The promoters wish to segment the market and charge adults and students different prices. They estimate that the marginal and 5 Question average total cost of seating an additional spectator is constant at $10. 0/100 0 of co Attempts 6 Question 100% 1 of oo Attempts Correct a. For each market segment (adults and students), find the inverse demand and marginal revenue functions. 7 Question 100% Make sure to use Q to stand for quantity and P to stand for price. Otherwise, your answer will be marked wrong. 1 of 0o Attempts Correct 8 Question 85% 4 of co Attempts Correct Inverse demand for adults: P = MR adults = 9 Question 95% 2 of co Attempts Correct 10 Question 100% 55OF cle ENG 04:05 Type here to search IN 19/11/2021"> Reading list Apps YouTube Maps M Gmail Looking for those o... SP Make Images, Vide... image0.gif (112x112) Dank Memer CD5F40071CE10F2... # May be an image o.. 1 Assignment Score: 70.6% Resources [x Give Up ? Hint Resume 4 of 12 Questions Question Question 0% Question 4 of 12 0o Attempts a. For each market segment (adults and students), find the inverse demand and marginal revenue functions. Question 95% Make sure to use Q to stand for quantity and P to stand for price. Otherwise, your answer will be marked wrong. Do Attempts Correct Question 74.5% foo Attempts Correc Inverse demand for adults: P = MR adults = uestion 7.1% Attempts gestion 0/100 Attempts Inverse demand for students: P = MR students Question 100% Attempts Correct b. Equate marginal revenue and marginal cost. Determine the profit-maximizing quantity for each segment. Question 100% Attempts Correct Question 85% Attempts Correct Cadults = students Question 95% Attempts Correct c. Plug the quantities identified in part b into the respective inverse demand functions to find the profit-maximizing price for each segment. Question 100% ENG 04:05 Type here to search Fi 55 OF ~ Dad IN 19/11/2021 DII PrtScn Home End PgUp PgDn F2 F3 F4 F5 F6 F7 F8 F9 F10Apps YouTube Maps M Gmail 70.6% Resources Ly Give Up? ? Hint Resume 4 of 12 Questions Question 95% Correct 74.5% Total profit = $ Correct 7.1% e. How do the answers change if the arena where the event is to take place has only 5,000 seats? Determine the new student price, the new profit from the student segment, and the new total profit. 0/100 100% Pstudents = $ Profit students = $ Correct 100% Correct 85% Total profit = $ Correct 95% Correct 100% 04:06 pe here to search 55OF ~ ENG IN 19/11/2021 4 x PrtScn Home End PgUp PgDn F2 F3 F4 F5 F6 F7 F8 F9 F10 F11