The Bland Corporation (BC) holds the patent for electronic slitherboards (delivered via the Internet). The inverse demand for electronic slitherboards is P = 12-Q The BC's total cost and marginal of providing electronic slitherboards are Total cost = 2Q MC = 2 a. How can BC produce electronic slitherboards without a fixed cost, given that it must have developed at least some sort of software, delivery process, and so forth? b. If it will charge a single price, how many slitherboards will BC put up for sale? What will the market price of slitherboards be? How much profit will BC make? Show your work or you will receive no credit c. Suppose BC finds a way to perfectly price discriminate. How much profit will it make now? What will happen to total surplus in the slitherboard market when BC switches from the single monopoly price to perfect price discrimination? Is the outcome a Pareto improvement? Show your work or you will receive no credit d. Suppose that BC's patent expires and entry to the slitherboard market is free. Suppose each of the new entrants has a cost function identical to BC's. What will price and quantity in the industry be now? Show your work or you will receive no credit e. Which outcome would be more efficient: perfect price discrimination (part c) or perfect competition (part d)? Explain your answer - no explanation = no credit