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A consumer with demand relationship P = 20 - Q is facing two multi-part tariff plans. Plan A involves a fixed fee of £50, then each of the first 5 units are sold at price £5, and the price increases to £7 per unit afterwards. Plan B specifies a fixed fee of £70, a price of £5 per unit for the first 10 units, and £8 for subsequent units.
Calculate consumer's surplus from Plans A and B.
If you want to offer this consumer a two-part tariff that includes the price of £5 for as many units as she likes to buy, what is the highest fixed fee you will be able to charge? Explain.
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