Solve clearly

Assume that a water distribution monopoly serves two consumer types, industrial and residential. Let P]- denote the price that industrial consumers pay for water. and PH denote the price that residential consumers pay for water. The demand for water by industrial users is: Q; (PI) = 100 P1. The demand for water by residential consumers is QR (P3) = 120 2P3. The total cost the monopoly incurs in producing water is given by: TC 2 1462.5 + ZOQR + 20G}; . Find the Ramsey price for residential water. . . PMC- Hint: Ramsey's rule I5 glven by: ' R ' = % Where n denotes the price elasticity of demand.