Question: 2. Consider the choice model given below: Choice Choice ProbabilitvF Product 1 EEC; [1 + exp (1.25 .8131) + exp (1.5 .8392) + exp (1.75

 2. Consider the choice model given below: Choice Choice ProbabilitvF Product

2. Consider the choice model given below: Choice Choice ProbabilitvF Product 1 EEC; [1 + exp (1.25 .8131) + exp (1.5 .8392) + exp (1.75 .8193) + exp (2 8394)] Product 8X!) (1-25 3P1) 1 m Product exp (1-5 3332) 2 m Product exp (1-75 3103) 3 m Product EXP (2 3104) 4 [1 + exp (1.25 .8391) + exp (1.5 .8192) + exp (1.75 .8193) + exp (2 3394)] a) Calculate the optimal prices that maximize revenues. b) What is the optimal revenue per customer

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