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Need Solution Question 4 (3.5 points) A firm produces two versions of the same product: the first version is promoted as the high-class version for

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Question 4 (3.5 points) A firm produces two versions of the same product: the first version is promoted as the high-class version for the demanding customer, while the second is promoted as the house-brand for a general public. The products have the following demand functions ( q1 = 9.6 - 0.3p1 + 0.4p2 192 = 33.6 + 0.2p, - 0.6p2 where p, and pz denote the unit prices for the two versions (in some unspecified monetary unit) and q, and q2 the amounts demanded (in some unspecified unit as well). a) Which unit prices for the two versions make sense in the context of this problem? Show them on a graph and provide the necessary explanations. As part of the different branding of the two versions, the firm decides that the production for the second version should be at least 60% of the total production (for the two versions combined) and that the unit price of the first version should be at least 20 monetary units higher than the unit price of the second version. b) Show the production levels for the two versions that satisfy these supplementary requirements as well as the conditions from part a]. Wind here to search O e 231 P

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