You are the CEO of a brand-new dating app (BnDA). The number of users (i.e. total quantity demanded) for BnDA is: n = 1200 p + yne where y E (0,1), ne is the expected network size,p is the price. a) Interpret the parameter y. What strategies can you use for a company like BnDA to increase the value of y? (2 marks) - b) Assume y 0.4 and the users accurately anticipate ne so that n = ne, and the marginal cost per user is 0. What is the profit maximising price? (1.5 marks) c) Suppose BnDA have an investment opportunity to acquire a start-up that can increase the parameter y from 0.4 to 0.9. What is the maximum amount BnDA should be willing to pay for this acquisition? (1.5 marks)