3 Price Discrimination The demand function faced by a firm is P = 20-Q, and the marginal cost of production is equal to $4. Compute profits, consumer surplus and deadweight loss in the following three scenarios: 3.1 (20 points) Under marginal cost pricing. 3.2 (20 points) When the seller charges a single price to all customers (a non-discriminating monopoly). 3.3 (20 points) When the seller can perfectly price discriminate customers (first degree price discrim ination). Hint: use the fact that under first degree price discrimination the seller extracts all the surplus from consumers and the efficient quantity is implemented in the market