a) Based on the demand distribution above, calculate the optimal single price and its corresponding profit. (3 marks)

b) Based on the demand distribution above, calculate optimal one-to-one pricing profit. (3 marks)

c) Now, you divide the customers into two segments according to WTP (Willingness To Pay) as follows: Segment 1 (e.g., day-time customers) = all customers with WTP > $12, Segment 2 (e.g., night-time customers) = all customers with WTP

d) Explain whether the firm can benefit from price differentiation. Further, does price differentiation reduce current customers waiting time? If not, discuss how you can actually make price differentiation effectively reduce customer waiting time.

please give equations and full working out