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The football game between Standford and the US Berkeley is going to be held at Standford Stadium, which has 60 000 seats. Customers can be segmented into students and general public. We assume that the price response curves for each of these segments is:
General public dg(pg) = (120 000 - 3000pg)
Students: ds(ps) =(20 000 -1250ps), where pg is the price charged to the general public, and ps is the student price.
1. What if Standford can only charge a price to all? What would be the optimal price? What is total revenue?
2. What are the separate prices to charge for students and the general Public and revenue?
3. Assume that there has been earthquake damages Standford stadium so that there are only 53000 seats available. Assume Standford only can charge one price to all. What would be the optimal price and total revenue?
4. Assume still only 53 000 seats available, what would be the separate prices for each of the segments and the total revenue?
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