The New University of Irvine (NUI) has fixed costs of $3 million per year, plus variable costs of $1, 500 per student per quarter. The demand for an education by local students is P(Q_L) = 3,000 - Q_L per quarter and that by out-of-town students is P(Q_O) = 5,000 - Q_O per quarter. Find NUI's per quarter total cost function, average cost function and marginal cost function. Find an expression for total demand and marginal revenue, for Q > 2,000, and verify that the profit-maximizing price is $2, 750 per student per quarter. How would your answer be affected if the annual fixed cost rose to $9 million per year? What if it rose to $10 million? Suppose that NUI decides to price-discriminate between the two groups of students. Calculate the prices charged to each of the two groups per quarter and the number of students attending NUI from each group. By how much do quarterly profits rise from the simple pricing solution