At an amusement park, a swimmer uses a water slide to enter a pool. If the...
Knoebels Amusement Park in Elysburg, Pennsylvania, charges a lump-sum fee, L, to enter its Crystal Pool. It also charges p per trip down a slide on the pool's water slides. Suppose that 350 teenagers visit the park, each of whom has a demand function of q1 6-p, and that 350 seniors also vist, each of whom has a demand function of q2 5-p. Knoebels's objective is to set L and p so as to maximize its profit given that it...