1. (20 points) Consider the owner of a local amusement park who is a monopolist with zero fixed costs and constant marginal cost of $4. This monopolist can price discriminate in the form of a two-part tariff. Suppose there are 10 identical consumers, each with the following demand function (hint: be careful. This is an individual demand function): P = 20 - Q (a) (5 points) What is the profit-maximizing tariff? How many rides does each con- sumer ride? (b) (5 points) What is the total profit that the firm earns? What is total welfare in the market? (c) (5 points) Suppose that the monopolist cannot price discriminate now. What is the total profit now? What is total welfare? (d) (5 points) If instead this firm was a competitive market, what would be P? what would be