Q3) You are the manager for new cars. The price of the current model, an internal combustion engine car, is 22,000. It goes 4 miles per litre (mpl). The new model, an electric vehicle, is priced at 26,000. The Electric vehicle's goes 30kWh per 100 miles. Petrol costs 2.00 per litre. Electricity charges are 17.2p/kWh. The average life of a car is 13,000 miles. You are hoping to demonstrate to the customer how much better your new product is. How will you do that? SHOW ALL YOUR CALCULATIONS AND STEPS. (5 marks) Q4) What is reference price? Reference points of consumers may be moved. Please explain and illustrate with an example of each. (5 marks) FINAL PAGE