The ice cream market consists of both high and lowquality product. Highquality ice cream is made with only natu ral ingredients (cream, sugar, real fruit) while lowquality ice cream is often made with articial avors and other alternative ingredients. Suppose that the cost to ma ke one serving of highquality ice cream is $5.40 and the cost to make one serving of lowqua lity ice cream is $3.80. Ice cream buyers have different valuations for ice cream depending on the quality. They are willing to pay $7.75 for a serving of highsquality ice cream but only $3.50 for a serving of low-quality ice cream. Unfortunately for consumers, they cannot tell the difference by looking at the ice cream. Give all your answers in this problem to two decimal places. Suppose that buyers expect half of the ice cream sold to be high quality and half to below quality. What is the most a consumer would be willing to pay for a randomly selected serving? $ Suppose buyers expect 75% of the ice cream to be high quality and 25% to below quality. What is the most a consumer would be willing to pay for a randomly selected serving? $