The results of a study by Cafe Du Monde shows that customers' reservation price (i.e., w.t.p.) for a beignet (French doughnut) is uniformly distributed between $0.5 to $1.5.

a) Draw the w.t.p function. (5pts)

b) If Cafe Du Monde sell a beignet at $1.1, find the fraction of customers that will purchase one at this price (10pts)

c) If Cafe Du Monde their French doughnut at $0.8 per beignet, find the fraction of customers that will not purchase a doughnut at this price (10pts)

d) Cafe Du Monde maximum production capacity is 20000 beignets per day (Hint: that can be considered as D, the market size). Find the formula for the price-response curve for beignets. (15pts)