Please answer the following question and if you need anything, please write me in comment section.

exford Arms B&B Cthe Hostel") is a private hostel business with 3 properties in Oxford. The Hostel has a total of 20 beds in the 3 properties. The Hostel is run by a private business family. using a combination of hourly paid labour. The Current number of guests per year averages 4.500. who pay 5.50 for their bed, washing facilities, interneVcOmputer access. an evening meal and breakfast. The hostel opens 365 days a year. The Hostel has experienced long-term losses. Because of tho pandemic. the family is running out of savings. The family has decided that the losses are not sustainable anymore and would like to reduce the deficit to O in the Coming year. due to the COStS Of running the business are also expected to rise. as shown below: Variable costs Fixed COS ts Food Current 4.20 E 14.50 Lncrease-next-yea.r 10.0% 10.0% 8.0% As the family not wish to pump rnoro cash to the business. they are considering the following three options for the coming year s operation: Option a) Increase the price (i.e. new prkze per bed): Option b) Increase the (i.e. new number Of room bookings); and Option c) Increase the price nd the occupancy at Same time. Please a the following: I) Calculate and briefly diSCuSS the result Of option a) 2) t:wieny d iSCuSS the result Of option b) 3) and briefly diSCuSS tho result Of option c). using additional I .OOO bookings forecasted to to the next year after tho 4) using a report format. discuss tho Strengths and Of this COSt plus pricing strategy. Elaborate any recommendations you give to holp the hostel its