peak load pricing

4. Suppose that a power utility company faces a total cost function of TC = 0.502 + 100,000. Where prices are in Ngwe/kilowatt-hour and quantities are in million of kilowatt-hours. The demand function for off-peak hours is DO: P = 4 Q. The demand function for peak hours is: DP: P = 8 Q. Calculate: (a) The equilibrium price and quantity demanded during off-peak hours. [4 marks] (b) The equilibrium price and quantity demanded during peak hours. [4 marks] (c) The total prot for electricity. [2 marks]