1. Suppose all individuals areidentical, and their monthly demand for Internet access from a certain leading provider can be represented as p= 5 (1/2)q where p is price in$ per hour and q is hours per month. The firm faces a constant marginal cost of$1. The profit maximizing twopart tariff yields results in the firm selling ? hours
2. Suppose asingle-price monopolist faces an inverse demand curve given as p= 100 4Q, and MC is constant at 16, then profit maximization is achieved when the monopoly sets price equal to ?