Economics - Aplia Help?

Question

Coaster Park Thrills (CPT) is a small roller coaster theme park that sells admission tickets to customers who can then ride all roller coasters for free. Let Q be the number of admission tickets sold each day. Here are the equations for CPT's total cost and marginal cost:

TC = 1,000 + 0.01Q2

MC = 0.02Q

Daily demand for admission tickets can be written as P = 36 - 0.05Q so that MR = 36 - 0.1Q, where P is the price of a ticket and MR is the marginal revenue.

2.2. At what price will CPT sell admission tickets to maximize its profit?

Answer 1

MR=MC

0.02Q=36-0.1Q

0.12Q=36

Q=300

P=36-0.05Q=36-15=21