1. There are six openings left in the always popular Intermediate Microeconomic Theory course being offered at Adam Smith College, and there are 10 students looking to add the course. The professor has decided to give the six spaces to the students who value the class most highly. He has asked students to submit bids showing the highest price they are willing to pay to be admitted to the course. Below, sort the students into the appropriate categories based on their bids. A. Irene $990
B. Edwin $750
C. Hansel $800
D. Cassandra $1.500
E. Gerry $1,050
F. Danielle $1.200
G. Albert $1,100
1. Categories Accepted into Class
2. Waitlisted
2. If the professor acts as an ordinary monopolist and there are no costs incurred by adding students, what price would he set?