Knoebels Amusement Park in Elysburg, Pennsylvania, charges alump-sum fee, L, to enter its Crystal Pool. It also charges p pertrip down a slide on the pool's water slides. Suppose that 450teenagers visit the park, each of whom has a demand function ofq1=6-p, and that 300 seniors also vist, each of whom has a demandfunction of q2=5-p. Knoebels's objective is to set L and p so asto maximize its profit given that it has no (non-sunk) cost andmust charge both groups the same prices. The optimal L and pare L=$ --- p=$--- Enter numeric responses using real numbersrounded to three decimal places.
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