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Question 60 out of 30 pointsAn amusement park, whose customer set is made up of two markets,adults and children, has developed demand schedules as follows:The marginal operating cost of each unit of quantity is $5. Becausemarginal cost is a constant, so is average variable cost. Ignore fixedcosts. The owners of the amusement part want to maximize profits.Price ($)QuantityAdultsChildren51520614187131681214911121010101198128613741462Calculate the price, quantity, and profit if: The amusement parkcharges the same price in the two markets combinedPlease express your answers for Price and Profit in whole dollars(i.e.10.00)Please use whole numbers for Quanitity (i.e. 10, 27, 4)PriceQuantityTotalMarginalMarginalTotalMR-MCProfit
RevenueRevenueCostCost[a][k]14330.0055.00[u][b][l]1688.335.0070.003.33[v][c][m]1876.335.0085.001.33[w][d][n]2004.335.00100.00-0.67[x][e][o]2072.335.00115.00-2.67[y][f][p]2080.335.00130.00-4.67[z][g][q]203-1.675.00145.00-6.67[aa][h][r]192-3.675.00160.00-8.67[bb][i][s]175-5.675.00175.00-10.67[cc][j][t]152-7.675.00190.00-12.67[dd]

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Term
Fall
Professor
Duane Smith
Tags
Time Warner, Time Warner bundle

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