1.     Calculate the profit-maximizing quantity and price for the non-student market. (attached Figure A: Non-Students)     2.     Calculate the profit-maximizing quantity and price for the student market. (attached Figure B: Students)     3.  Calculate the profit if the firm charges both the non-students and students the same price of $20. (attached Figure A: Non-Students and Figure B: Students)

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Price Discrimination

Price discrimination or differential pricing is based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.