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The weekly individual demand (i.e. each of your answers below will be in terms of person...

The weekly individual demand (i.e. each of your answers below will be in terms of person per week) for strawberries is Q = 22 – 20*P and the total cost of producing strawberries is C(Q) = 0.1Q. Suppose there is only one producer of strawberries and that a city ordinance does not allow consumers to buy strawberries from any other seller outside (not realistic, but assume it for this problem). Suppose the monopolist knows each individual’s willingness to pay and is allowed to charge them the most they are willing to pay. What is the name for this pricing strategy and how much more profit will the monopolist make compared to the standard monopoly pricing model?

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