Miron Floren, of Lawrence Welk Show Fame, Now Tours the Country

question 18

Multiple Choice

Miron Floren, of Lawrence Welk Show fame, now tours the country performing at accordion concerts.A careful analysis of demand for tickets to Mr.Floren's concerts reveals a strange segmentation in the market.Demand for tickets by senior citizens is described by Q₀= 500P^-3/2 while demand by those under 65 years old is Q_y = 50P^-4.If the marginal cost of a ticket is $3, how should tickets to Mr.Floren's concerts be priced to maximize profits?

• A)$9 for senior citizens and $4 for those younger
• B)$12 for senior citizens and $4.50 for those younger
• C)$3 for senior citizens and $8 for those younger
• D)$4.71 for all tickets
• E)$6 for senior citizens and $12 for those younger

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