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Suppose there are three types of concertgoers at symphony hall.Staff number 30 and are willing to pay $50.Students number 20 and are willing to pay $30.Music lovers number 50 and are willing to pay $70.The cost of the concert is $500.The hall must charge in increments of $5 (that is,$20 or $25,but not $23),and wants to maximize revenue.
a.If symphony hall can charge only one price,how much revenue is earned?
b.If symphony hall can perfectly price discriminate,how much revenue is earned?
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