The University of Toronto is evaluating whether a Restaurant Management degree should be introduced at the Mississauga campus. A consulting economist estimates that the market demand for this program would be given by Q = 1000 0.04P where Q is the number of students admitted to the program and P is the level of tuition fees. To offer this program the University would incur total costs C = 37.5Q2 so MC = 75Q. The University will be able to operate as a price-making monopolist if they undertake this venture. a. The University wishes to maximize profits. What level of enrolment Q and tuition P should be chosen? b. The Office of The Registrar is only concerned with collecting large amounts of tuition. What level of enrolment Q and tuition P will maximize total revenues for the new program? c. A clever economics professor proposes that the University should introduce a 2-Part Tariff for the new program. How would this affect enrolment, tuition and profits?