Question: Please answer and explain those question. 3) Suppose the number of users (i.e. total quantity demanded) for a new cnline messaging service (NOMS) is: n

Please answer and explain those question.

3) Suppose the number of users (i.e. total quantity demanded) for a new cnline messaging service (NOMS) is: n = M p + 1/119 where y E (0,1), n"- is the expected network size,p is the price. a) Interpret the parameter y_ What strategies can NOMS use to affect y? (2 marks) b) Suppose M = 100, y = i, and the users accurately anticipate n9 so that n = as, and the marginal cost per user is 0. What is the prot maximising price? (1 mark)

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