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(10 pts.)A monopolist sells its product to 200 customers. Each consumer i's demand can be represented with the following inverse demand function P = 100
(10 pts.)A monopolist sells its product to 200 customers. Each consumer i's demand can be represented with the following inverse demand function P = 100 - SQi, where Q,- is the quantity demanded by con5umer i, and P, the price of the good. The monopolist's cost function is C(Q) = 30Q, where Q = 2,13%. The monopolist wants to maximize his profit. a) If the monopolist can only engage in uniform pricing, what is the monopolist's profit, and the totai deadweight loss in the market? {5 pts.) b) If the monopolist requires its consumers to buy a membership for a fee before buying the product, what is the monopolist's profit maximizing membership fee and per-unit price? What is the monopolist's total profit, the total deadweight loss in the market, and each consumer's surplus? (5 pts.)
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