Question 3 - Pricing for Different Customer Semen\" I12 Eints} Renee is the manager of a bus company that serves the Houston-Dallas route. The demand curve facing each bus is: Number of Seats Sold = 100 0.4 X Price The variable cost of serving each seated customer is 550. There is no fixed cost. (For questions where Renee charges multiple prices, assume that there are segmentation fences in place such that the customers with higher WTP will pay the higher price.) a. b. What is the maximum WTP in the market? (1 point} If Renee charges a price of $100 per seat, what is the profit for each bus? (1 point] If the price is $100 per seat, how much is the "Money Left on the Table\"? (1 point} If Renee charges 2 prices, 5120 (High Price} and $80 {Low Price), what is the profit for each bus? (1 point} If Renee charges 2 prices, 5120 (High Price} and $80 (Low Price}, how much is the l"I'v'lonev Left on the Table"? (1 point} If Renee charges 2 prices, 5120 (High Price} and $80 {Low Price), how much is the \"Pass-Up Profit\"? (1 point) If Renee charges 3 prices, 5160 (High Price}, $130 (Medium Price}, and 5100 [Low Price}, what is the profit for each bus? (2 points} If Renee charges a single price, what is the optimal price w what is the prot? (2 points} If Renee were to charge 2 prices, a "High Price\" and a \"Low Price", what are the optimal prices? What is the maximum prot at those optimal prices? State your answers very clearly, including showing the prot function and the equations for calculating the optimal High Price and Low Price (2 points) {Don't worry about rounding for this question)