Please refer to the background information below to answer the following seven questions. Victoria Water is the sole water supplier in Utopia. It faces the demand curve and cost curves below: Demand: = 240 3P million units each year Total cost: TC = 0.4Q% + 9.5Q + 1500 million dollars each year Marginal cost: MC = 0.8) + 9.5 dollars per unit where P is price of water in dollars per unit, is quantity of water in million units per year. 49. In the short run, to maximize profit, Victoria Water charges [ Answer49A | dollars per unit and provides [ Answer49B ] million units of water per year. . If the government imposes a price ceiling at 53 dollars per unit, in the short run, Victoria Water will provide [ Answer50 | million units of water per year. . Suppose the government instead provides a per-unit subsidy of 4.75 dollars to Victoria Water. In the short run, Victoria Water charges [ Answer51A | dollars per unit and provides [ Answer51B ] million units of water per year. . Continue with the previous question. In the short run, Victoria Water will earn a profit of [ Answer52 | million dollars per year. . Continue with the previous question. In the short run, the deadweight loss in the water market will be [ Answer53 | million dollars per year. . Suppose the government instead provides a per-unit subsidy of 4.75 dollars to consumers in the water market. In the short run, the deadweight loss in the water market will be [ Answer54 | million dollars per year. . Suppose instead the government wants to use subsidy policy to completely eliminate the deadweight loss in the water market. The government should provide subsidy to consumers at a rate of [ Answer55 ] dollars per unit. . An economist operates a mini-cafe that sells tea and cake. The operation of the cafe involves fixed cost of $6 per day (say, rental of the space). The economist is deciding how best to sell tea and cake, as a combo or separately. Suppose each day there are two potential buyers in the market and their willingness to pay (in $) for tea and cake are summarized below: Tea Cake Cindy 20 54 Veronica 50 42 Suppose, for both tea and cake, the marginal cost of supplying an additional unit is constant at $8. When tea and cake are sold as a combo, the economist will incur an additional packaging cost of $0.5 per combo. The economist should sell tea and cake [ Answer56A | (A. as a combo; B. separately), and make a daily profit of at most $[ Answer56B |