To answer this question, you will need a graph, but you do not have to include the graph in your answers. To receive full credit, you must show every step of your solution.

Suppose a business firm faces the following demand equation: Q = 40 - 0.5P. MC = $20.

Apply the two-part pricing strategy and compute the fixed fee, variable (per unit) fee, output, total revenue, and total variable cost. Be sure to show your work.