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Please help with the high and low quality question below. 3. You have the option to produce different versions of a product or service: high

Please help with the high and low quality question below.

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3. You have the option to produce different versions of a product or service: high quality, or low quality. The marginal cost to produce the low quality version is $3 and the marginal cost to produce the high quality version is $15. There are two types of consumers Type A and Type C with 100 consumers of each type. Each consumer will buy at most one version of the product. These consumers have the following willingness to pay: Low Quality High Quality Customer Type A $14 $28 Customer Type C $18 $52 (a) 3 points Suppose you were to offer only the low quality version. Find the optimal price and prot. Show / Explain why these are the optimal prices/ prots. (b) 3 points Suppose you were to only offer the high quality version. Find the optimal price and prot. Show / Explain why these are the optimal prices/ prots. (c) 7 points Suppose you offer high and low quality versions. Find the optimal prices and prot

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