4. Third-Degree Price Discrimination. A monopolist has two sets of customers: low demand and high demand. Suppose that the demand functions for both types of consumers are given by the following equations: Qu= 1600 -2PL and Qu=4800 - Pu . The monopolist faces constant marginal cost of $200. Suppose that the monopolist can separate the two groups and charge separate, profit maximizing prices to each. Suppose that cannot discriminate between the two groups (Hint: be careful in your analysis and think of reservation prices) 1. What price will the monopolist set? 2. What is consumer surplus in this case