Please provide a complete explanation of how you received the answers to better understand the concept.

You want to purchase the famous translucerator model #421 and are searching across possible venders. You know that the distribution of venders' prices is uniform between $20 and $30. If the rst store you land on offers a price of $28: What is the probability you would get a better price on your next search? What is the expected improvement in price conditional on you getting a better price? If your search costs are $0.50, would you search another store? If your search costs are $0.50, what is your reservation price? For an arbitrary consumer with search costs 3, what is their reservation price? If there is vendor is selling at a price of $30, what is the lowest search cost among their customers? g. Suppose a new intemet technology cuts the search costs in half, what happens to the demand at the vender with a price of $30? run 9-9 Cr.\