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A nightclub owner has both students and adult customers. The demand for drinks by a typical student is Qs = 18 - 3P. The demand for a typical adult...
1. A nightclub owner has both students and adult customers. The demand for drinks by a typical student is Qs = 18 - 3P. The demand for a typical adult is Qa = 10 - 2P. There are equal numbers of students and adults. The marginal cost of each drink is $2.
a. What price will the club owner set if she cannot discriminate between the two groups? What will her total profit be at this price?