Suppose the demand for a product produced by a firm is given by, Q = 40-0.2P and the marginal cost of the product is $20 per unit.

1. If the firm cannot price discriminate, what is the profit-maximizing price and level ofoutput?
2. Find out the amounts of Producer Surplus, Consumer Surplus and Deadweight Loss if any?
3. If the firm can practice price-discrimination, what output levels will it choose and what will be the levels of Producer Surplus, Consumer Surplus and Deadweight Loss?