See images attached. There are 3 multiple choice questions with answers. I need an explanation for results, as I don't understand the procedure to get to the answers. Thank you

2. A monopolist nds that a person's demand for its product depends on the person's age. The inverse demand function of someone of age y can be written p = A0) q, where A0) is an increasing function of y. The product cannot be resold from one buyer to another and the monopolist knows the ages of its consumers. If the monopolist maximizes its prots, older people will pay higher prices and purchase less of this product. older people will pay higher prices and purchase more of this product older people will pay lower prices and purchase more of this product. everyone will pay the same price but older people will consume more. None of the above ANS: B DIF: 2 EDP-PF? 19. A careful analysis of demand for Bubbles in Strasburg, North Dakota, reveals a strange segmentation in the market. (Recall Bubbles is the beverage which produces an unexplained craving for Lawrence Welk's music. It is produced by the process Q = min{Rf4, W}, where R is the number of pulverized Lawrence Welk records and Wis gallons of North Dakota well water. P]: = $1, Pw = $4.) If demand for -312 Bubbles by senior citizens is described by Q0 ' 500p while demand by those under 65 years old is Q, = 50P", how should Bubbles be priced to maximize prots? $12 for senior citizens and $32 for those younger $12.57 for all citizens of Strasbung $24 for senior citizens and $10.67 for those younger 58 for senior citizens and $21.33 for those younger $48 for senior citizens and $21.33 for those younger ANS: C rap-ova: 9. A price-discriminating monopolist sells in two separate markets such that goods sold in one market are never resold in the other. It charges p1 = $2 in one market and p2 = $8 in the other market. At these prices, the price elasticity in the rst market is -2.20 and the price elasticity in the second market is 0.10. Which of the following actions is sure to raise the monopolist's profits? Lower p2. Raise p2. Raise both p1 and p2. Raise p1 and lower p2. Raise p2 and lower p1. ANS: B DIF: 2 9999