Question: I am stuck at this practice question. How is this question best approached? Question A3 A recent graduate from medical school is the only Doctor

I am stuck at this practice question. How is this question best approached?

I am stuck at this practice question. How is this question best

Question A3 A recent graduate from medical school is the only Doctor in a large country town. She faces the following daily demand schedule for consultations Price/WTP ($) Quantity demanded per day 100 0 90 1 80 2 70 3 60 4 50 5 40 6 30 7 20 8 10 9 0 10 The total fixed cost (TFC) for the Doctor to rent the premises is $100 per day, and the marginal cost of seeing another patient is $4 times the number of units supplied (MC = 4Q, where Q is the number of patients seen). (a) What is the profit maximizing uniform consultation fee for the Doctor to charge? With uniform pricing, what is the profit maximising quantity of patients that she should see each day? What profits will the practice earn? (b) Suppose the Doctor has come to know her patients so well that she can engage in perfect price discrimination. How many patients will she see? What prices will she charge? What profits will the practice earn with this pricing regime

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