The following chart shows the willingness to pay and the cost for each type of microphone and consumer.

Willingness to pay

	Costs	Professors	TAs
Microphone	40	200	120
Economy	23	80	30

For items 2-5 below, assume that Logi cannot tell professors apart from TAs.

2. Assume that in the mist of the pandemic LoGi decides to sell economy microphones only because it is much easier to produce those. What is the equilibrium price of economy microphones that would maximize Logi profits?

Hint: Your answer will be a function of the number of professors and TAs.

3. Now suppose that Logi decides to sell podcast-style microphones only. Compute the price that would maximize LoGi's profits.