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What are the answers ? simple steps are enough In Utopia, Uber sells miles of travel to senior citizens (s) and younger citizens (y) whose

What are the answers ? simple steps are enough

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In Utopia, Uber sells miles of travel to senior citizens (s) and younger citizens (y) whose demand curves for Uber rides are given by the following equations Demand (s): Qs = 1000 - 75PS thousand miles Demand (y): Qy = (1000/2) - (75/2) Py thousand miles and the marginal cost is a constant $2 per mile for either kind of rider. 54. Suppose Uber decides to set a single price for both groups, and maximize profits accordingly. Then, Uber will sell [ Answer54 ] thousands of miles. 55. When a single price is set, Uber will charge a price of $ [ Answer55 ] per mile. 56. With a regulatory cost of $C, the government can implement a policy to completely eliminate the inefficiency due to the single-price monopoly. For the government to find it beneficial to implement the policy, C must be less than [ Answer56 ]. 57. Suppose Uber decides to set one price for each group, and maximize profits accordingly. Then, Uber will sell [ Answer57A ] thousands of miles to senior citizens at a price of $[ Answer57B ] per mile. 58. And, it will sell [ Answer58A ] thousands of miles to younger citizens at a price of $[ Answer58B ] per mile. 59. The total consumer surplus under Uber's single-price scheme is [ Answer59 ] thousands dollars LESS THAN the total consumer surplus under Uber's dual-price scheme

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