3. Suppose that individuals with a strong enthusiasm for technology are willing to pay $500 now for the latest iPhone, but only $350 if they must wait a year. Normal people are willing to pay $250, and their desire to purchase daoes not vary w time. Assume for simplicity that there are equal numbers of each customer type (strong enthusiasm and normal), that the MC of the iPhone is $100, ignore the time value of money, and there are only two years. (Hint: With discrete problems consider all the different options and evaluate each of them to determine the optimal strategy. In this case, there are only three prices given and two time periods, so a total of 6 pricing strategies exist but some of them will.) 1. What is the highest profit level that can be achieved if the price for an iPhone is foxed tor both years (uniform pricing)? 2. What is the highest profit level that can be achieved if the price for an iPhone can be altered across the two years?

Answer both the parts correctly and in 30 mins. I'll upvote if the answer is correct.