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3. Uonsider a monopoly that sells a product to consumers with a constant marginal cost ot $5. There are two potential consumers. As a prior
3. Uonsider a monopoly that sells a product to consumers with a constant marginal cost ot $5. There are two potential consumers. As a prior belief, each consumer thinks that the product is worth either $25 or $11 with equal probability, and he / she learns the true value of the product after trying it out. Each consumer may have a different perception of the value of the product, and these perceptions are independent events. The product is non-durable. Suppose there are two periods, and each consumer demands at most one unit of the product in each period. After the rst period, a company named InfoteX could conduct an online marketing survey to learn consumers' perceptions of the product. By purchasing the survey from InfoteX, the monopolist knows whether a consumer is happy with the product (i.e., he/ she thinks the product is worth $25 instead of $11 after trying out) or not, and can offer personalized prices to customers in the second period. Then the monopolist should charge $ _______ in the rst period, and will be willing to pay up to $ ________ to buy the survey from InfoteX
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