4-6. A consumer has a utility function for electricity given by: U = 1200X - 60(2), 0 S X S 100 Where X is measured in units of electricity consumed per month and U is measured in dollars. Questions 4 through 6 concern this country. 4. If the price of electricity is $60 per unit, what will the dollar value of the consumer surplus be for this consumer? A) $27,000 B) $54,000 C) $54,150 D) $56,250 E) $59,850 F) $64,150 G) $103,200 H) $108,300 1) $119,700 J) none of the above 5. Imagine the electricity company is trying to boost sales. It offers the customer a choice of (i) paying $48 per unit for electricity [a reduction of $12 per unit from the normal price], or (ii) paying a at fee of $5000 for electricity each month and consuming any amount she want for that fee. The consumer will decide to: A) pay the at fee B) pay $48 per unit C) the consumer will prefer the original price of $60 per unit D) pay both the at fee AND $48 per unit E) wait for government regulators to force impose a binding price oor for electricity 6. Suppose now the electricity company wants to adjust the at fee arrangement. What is the maximum level of the at fee at which the consumer will choose the at-fee option (rather than the $48 per unit price)? A) $296 B) $600 C) $4608 D) $4704 E) $5000 F) $5296 (3) $5704 H) $6000 1) $6296 J) none of the above