Business, 25.06.2019 10:30 wowihavefun

The director of a theater company in a small college town is considering changing the way he prices tickets. he has hired an economic consulting firm to estimate the demand for tickets. the firm has classified people who go to the theater into two groups and has come up with two demand functions. the demand curves for the general public (upper q subscript gpqgp) and students (upper q subscript sqs) are given below: upper q subscript gpqgpequals=500500minus−55p upper q subscript sqsequals=350350minus−55p. graph the two demand curves in the figure to the right. if the current price of tickets is $55, identify the quantity demanded by each group. 1.) using the line drawing tool, graph the demand curve for the general public. label this curve upper d subscript gpdgp. 2.) using the line drawing tool, graph the demand curve for students. label this curve upper d subscript sds. 3.) using the point drawing tool, plot the price-quantity coordinate for the general public (gp) and students (s) when the price of tickets is $55. carefully follow the instructions above, and only draw the required objects.

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The director of a theater company in a small college town is considering changing the way he prices...