This is related to economics.

Now suppose that a firms isoprofit, demand, and marginal cost curves are as given in the figure below AND the firm has sufficient information and so much bargaining power that it can charge each consumer, separately, the maximum they would be willing to pay. 10,000 7 8,000 Q Aarginal - 8 : Isoprofit curve: .g P $63,360 o GicsioRt ciive = S0P VE o g e o L a Demand curve 0+ T T T T T T 1 0 Q* 50 100 120 Quantity of cars, Q 1. If the firm is operating at their profit-maximizing level of output: a. How many cars would be sold? At what price? b. What would be the highest price paid by any consumer? What would be the lowest price paid? . How much revenue will be made? How much profit will be made? How much will production cost? d. What will be the consumer and producer surplus? What will the deadweight loss be? (assume each tick on the y- axis represents $1,000) 2. Can you think of any examples of goods that are sold in this way? 3. Why is this not common practice? 4. Some firms charge different prices to different groups of consumersfor example, airlines may charge higher fares for last-minute travellers. Why would they do this and what effect would it have on the consumer and producer surpluses