Question: Problem 2 Consider a retailer selling a seasonable good. Based on past experience, management estimates the relationship between demand D and price p, by the

Problem 2 Consider a retailer selling a

Problem 2 Consider a retailer selling a seasonable good. Based on past experience, management estimates the relationship between demand D and price p, by the quadratic function D=20,000 - 1/3 p2. 1. The retailer's market size is closest to. 2. For single pricing strategy, the maximum revenue is closest. 3. For a two-tier pricing strategy with SAR 150 and SAR 200, the revenue of low price customers is closest to. (Note, first they serve the high price customers as much as possible)

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