There's a play - they pay 150,000 in a year for props/actors and marginal cost is 0 two types of people coming to the play, adults and teenagers. 4000 adults are willing to pay 150 for a ticekt. 20,000 teenagers will pay 20 for a ticlet.
1) If there's no price discrimination what price would it charge to maximize profit and what is the amount of profit?
2) If price discrimination exists, what would be the maximum profit the play could generate?
3) What is the deadweight loss associated with the no price discrimination policy compared to price discriminating