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Business, 29.04.2021 16:00 ipadguy1806

3)You are working hard to set up a price for a new product. By putting survey on MTurk, customers opinion are given below. W(p) is willingness to pay distribution. Price ($) W(p) 100 0.4 200 0.3 300 0.2 400 0.05 500 0.05 It is assumed that there is at most 300 customers who might want to buy the product. Your task is to find out (a) the optimal selling price for this product and (b) the number of customers who will not buy the product at the optimal selling price.

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