a) If the salon charges a single price of $15, what will its total daily revenue be? Total daily revenue: S b. b) Suppose, instead, that the salon practises price discrimination and now charges $21 for haircuts to regulars but only $15 to retirees and economics instructors. What will its new total daily revenue be? New total daily revenue: $ c) What is the value of consumer surplus that the salon has captured as a result of price discriminating? Consumer surplus: S

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