Let w(.), D, d(.) respectively denote the willingness-to-pay (wtp) density function (distribution), market size and demand function, where functions have price arguments. Parts a), b) and c) below are independent unless otherwise is stated.

a)Suppose that everybody is willing to pay more than $8. Moreover, wtp density w is constant from the price of $8 to the price of $12. Express w(x) over 0 x 20.

b)Suppose that w(x) is positive only for 3 x 10 and there it is constant. Suppose furthermore D = 700 and obtain d(p) for 0 p 10.

c) Suppose that d(p) = 800 - 40p, obtain the associated w(.) and specify its range.