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20. (4 marks) Given: Demand; P = 20 - 0.005 Q and monopolist's costs: TC = 12,000 + 5 Q MC = 5 a) (3

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20. (4 marks) Given: Demand; P = 20 - 0.005 Q and monopolist's costs: TC = 12,000 + 5 Q MC = 5 a) (3 marks) Assume that in (two) block pricing, the rst block sells at a price of $15. Find the second block P and Q, and therefore revenue, cost and prot. b) (1 mark) What is consumer's surplus in part a)

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