If the owners charge a higher price of $16 for each movie, then they will have a total profit of (1). If the owners charge a lower price of $12 for each movie, then they will have a total profit of (2). If the owners choose to charge only a single price, then they should charge the (3) price; however, if the owners are able to price discriminate and charge both $12 and $16, then they will earn a profit of (4).
1. 1,200
2. 1,600
3. lower
4. 2,000
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