Atruck is to be driven 300 miles on a freeway at a constant speed of x miles per hour. speed laws require that 35 ≤ x ≤ 55. assume that fuel costs $1.35 per gallon and is consumed at the rate of 2 + 1 600 %01 x 2 galloons per hour. given that the driver’s wages are $13 per hour, at what speed should the truck be driven to minimize the truck owner’s expenses?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?