Suppose there are two consumers, each with different willingness to pay for a monopolists product, as shown in Table 3. Assume that the monopolists marginal and fixed costs are zero. The monopolist knows that there are two types of consumers with the preferences shown in Table 3.

Total WTP

Quantity Consumer 1 Consumer 2

1 12 10

2 20 16

Table 3: Consumers Willingness to Pay

1) (42 points) Suppose there are two consumers, each with different willingness to pay for a monopolist's product, as shown in Table 1. Assume that the monopolist's marginal and fixed costs are zero. a. (12 points) Suppose the firm does not know the consumers types, and only observes the market demand curve. What is the constant per-unit price that the firm charges and what is its profit? Explain and show work.