Problem 2: MDI'le-Ol'f and Price Discrimination [13 points] Suppose here that a monopolist has a constant Marginal Cost of $10 per unit. The monopolist has no fixed costs. This monopolist is also the monopolist over two separate groups of consumers {i} Young Consumers and [ii] Old Consumers. The demand for Young Consumers is given by: Qvoung = 100 _ p And the demand for Old Consumers is given by: Quid = 50 '15P Suppose to start that this monopolist can price discriminate between these markets. The monopolist charges a different price for Young and Old consumers, based upon their age, which it veries by looking at the customers driver's license. 5} What type of price discrimination is this? [1 point] 6} What price does the monopolist charge Young Consumers? What quantity does the monopolist sell to Young Consumers and how much profits does the monopolist make? Show your work. [2 points] 1'} What price does the monopolist charge Dld Consumers? What quantity does the monopolist sell to Old Consumers and hovlr much profits does the monopolist make? Show your work. [2 points] Suppose now that the local government bans price discrimination, and so the monopolist must treat both consumers as being within the same market. 8} What is the new market demand curve that the monopolist faces? [3 points] 9} Write out the monopolist's new Marginal Revenue Curve. [3 points] 10} What price does the monopolist now charge in this general market? What quantity,I do thei.I sell and how much prots do theyI make? [2 points]