Please only do STEPS 3 THRU 5 (Parts 3,4,5). The correct answers are given in the question as you can see. I need you to show me the steps and formulas that will give me the answer. I do not want a written explanation of how to answer this, I need you to show me step by step. If you were the one that answered this the last time I posted it, please do not answer this again. Please also make sure the answers you get match up with the answers that are givenNonlinear Price Discrimination. Consider a monopolist that faces an inverse demand curve given by P(Q)=310-3Q and has a cost
Nonlinear Price Discrimination. Consider a monopolist that faces an inverse demand curve given by P(Q)=310-3Q and has a cost function given by + 15Q. C(Q)=2Q² + Uniform Pricing Model Suppose the monopolist is unable to price discriminate and must charge the same price to all consumers. Part 1 (4 points): Calculate the monopolist's profit-maximizing quantity. Profit-maximizing quantity: 29.50. (Enter your answer rounded to two decimal places and use the rounded value in Part 2.) Part 2 (4 points): Calculate the producer surplus of this market under the uniform pricing model. Producer surplus: $4351.25. (Enter your answer rounded to two decimal places.) Nonuniform Pricing Model Now suppose the monopolist can engage in second degree price discrimination by using two blocks in a declining-block pricing scheme. It charges a high price, P₁, on the first Q₁ units (the first block) and a lower price, P2, on the next Q₂ - Q₁ units (the second block). Part 3 (4 points): Calculate the profit-maximizing values for Q₁. Quantity sold in the first block (Q₁): 17.35. (Enter your answer rounded to two decimal places and use the rounded value in Parts 4 and 5.) Part 4 (4 points): Calculate the profit-maximizing values for Q₂. Total quantity sold (Q₂): 34.70. (Enter your answer rounded to two decimal places and use the rounded value in Part 5.) Question 5 (4 points): Calculate the producer surplus of this market under the non-uniform pricing model. Producer surplus: $ 5119.12. (Enter your answer rounded to two decimal places.)