Microeconomic theory

l. Monopoly Pricing In some cities, Uber has a monopoly on ride-sharing services. In one town, the demand curve on weekdays is given by the following equation: p=50q However, during weekend nights, or surge hours, the demand for rides increases dramatically and the new demand curve is: p : 100 q Assume a constant marginal cost of c > O. (3.) Determine the protmaximizing price during weekdays and during surge hours. (b) Determine the profit-maximizing price during weekdays and during surge hours if the marginal cost increase from c to c + 5 where 5 > 0. (c) Draw a graph showing the demand, marginal revenue, and marginal cost curves during surge hours from part (b), indicating the protmaximizing price and quantity. Determine Uber's prot and the deadweight loss during surge hours, and show them on the graph