Question: A monopoly firm determines they have a linear demand function. Their first option is to sell 10 units of goods for $120 and their second

A monopoly firm determines they have a linear demand function. Their first option is to sell 10 units of goods for $120 and their second option is to sell 20 units of goods for $70. Each customer can only buy one unit of the good. This results in an inverse demand function of P=170-5Q.

a) What is the marginal consumer's willingness to pay (WTP) for the good when 34 units of the good are consumed in the market?

b) What is the total willingness to pay for all consumers (in aggregate) when 34 units of the good are consumed in the market?

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