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What is his total revenue? What is the market consumer surplus? A1 Hair Care is a natural monopoly owned by Adam. Table 1 shows the

What is his total revenue? What is the market consumer surplus?

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A1 Hair Care is a natural monopoly owned by Adam. Table 1 shows the demand schedule (the rst two columns} and A1's marginal cost schedule (the second and third columns}. A1 Hair Care has done a survey and discovered that it has four types of customers each hour: one woman who is willing to pay $18, one concession holder who is willing to pay $16, one student who is willing to pay $14, and one boy who is willing to pay $12. Use Table 1 to answer questions (a), (b), (c)ond {0'} below: TABLE 1 Price Quantity Marginal cost (dollars per haircut) (haircuts per hour) (dollars per hour) 20 0 _- 18 1 6 16 2 8 14 3 10 12 4 12 1O 5 14

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