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The director of a theater company in a small college town is considering changing the way he prices tickets. He has hired an 100- economic

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The director of a theater company in a small college town is considering changing the way he prices tickets. He has hired an 100- economic consulting firm to estimate the demand for tickets. 90- The firm has classified people who go to the theater into two groups and has come up with two demand functions. The demand curves for the general public (Qap) and students (Qs) are given below: Qgp = 400 - 5P 98 8 8 8 3 8 Price Qs = 250 - 5P. Graph the two demand curves in the figure to the right. If the current price of tickets is $10, identify the quantity demanded by each group. 1.) Using the line drawing tool, graph the demand curve for the 10- general public. Label this curve Dap. 50 100 150 200 250 300 350 400 450 500 2.) Using the line drawing tool, graph the demand curve for Quantity (tickets)

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