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may someone please help me answer this question ABC Hair Salon is a natural monopoly owned by Albert Table 'I shows the demand schedule (the

may someone please help me answer this question

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ABC Hair Salon is a natural monopoly owned by Albert Table 'I shows the demand schedule (the first two columns) and ABC's marginal cost schedule (the second and third columns)? ABC Hair Salon has done a survey and discovered that it has four types of customers each hour: one woman who is willing to pay $40, one man who is willing to pay $35, one student who is willing to pay $30, and one pensioner who is willing to pay 525. Use Table 1 to answer questions (a), (b), (c) and (d) below: TABLE 1 Price Quantity Marginal cost (dollars per haircut) (haircuts per hour) (dollars per hour) 40 1 10 'IS 20 || 25 H$ QUESTIONS: a) IfAlbert is a single-price monopolist, what price will he charge and how many haircuts per hour will he sell? (Hint: construct and compute the Total Revenue and Marginal Revenue columns)? What is his total revenue? What is the market consumer surplus? (5 marks) b) IfAlbert pricediscriminates, what is the price each type of customer is charged? How many haircuts does Albert sell? What is the increase in his total revenue? (5 marks) c) Which customer benefits from Albert's price discrimination? Is the outcome efficient? What happens to consumer surplus? (5 marks) (1) IfAlbert finds a fifth customer willing to pay $10 for a haircut, should he sell to him? Why or why not? (4 marks)

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