Exercise2 (10 points) Background readings: Chapter 15 "Monopoly" Consider a firm "Y" who is a monopoly. Table 1 shows the demand schedule and marginal cost schedule for this firm. Table 2 shows its customers and their willingness to pay (WTP) for the product sold by firm "Y". The fixed cost for firm "Y" is $10 and this firm is maximizing profits. For each scenario below, find: the profit maximizing quantity sold and price. Find the profit of firm "Y". Scenario1: Firm "Y" is a single price monopolist who does not price discriminate Scenario2: Firm "Y" is a monopolist who perfect price discriminates. Who benefits from price discrimination by firm "Y"? Explain. Table1: Demand schedule for firm "Y" product fixed cost $10 Marginal Price Quantity cost ($/unit) (units) ($/hour) 40 35 30 D UI N 25 20 12 15 20 Table 2: Customers at firm 'Y" Customer WTP ($) 35 30 monDD 25 20 15