The demand curve for Lyft weekday rides in a certain city is described by the following equation: 0 = 50 - P. An average ride costs $25. However, during weekend nights the demand for rides increases dramatically and thus the new demand curve is: Q = 100P. As a result, Lyft implements a surge price that is twice the price of an average ride, or $50. 1.) Graph the demand curves and determine the quantity of rides demanded during weekdays and on weekend nights based on the above prices. Label the graph with the prices and quantities. 2.) Now imagine that Lyft riders are only willing to pay up to $40 instead of $50 during surge hours. Explain the reasoning behind this consumer behavior and draw the new demand curve for weekend nights. Can Lyft still charge the surge price of $50? 3.) Does this change in the demand curve affect Lyft's prots during weekend nights? If so, what is the overall gain or loss? 1. Fill out the table below Marginal Average Quantity of Total product of product of variable input output variable input variable input 0 0 1 25 2 50 3 80 4 220 5 30 6 45