Question 1 (0.5 pts) - What are 3 traditional pricing approaches? Explain them briefly and mention which departments in organizations like each of these approaches. Question 2 - The total potential market for a spiral-bound notebook is D = 20,000, and willingness- to-pay is distributed uniformly between $0 and $10. This means that if 0x 10 w(x) = 1 10 0 otherwise a. (0.25 pts) Derive the corresponding price-response curve. b. (0.25 pts) What is the satiating price?

Question 1 ( 0.5 pts) - What are 3 traditional pricing approaches? Explain them briefly and mention which departments in organizations like each of these approaches. Question 2 - The total potential market for a spiral-bound notebook is D=20,000, and willingnessto-pay is distributed uniformly between $0 and $10. This means that w(x)={1010if0x10otherwise a. (0.25 pts) Derive the corresponding price-response curve. b. (0.25pts) What is the satiating price