QUESTION 4 Cooking Wok Value to home users Value to professional Chefs No-name brand $50 $60 High-end professional series $70 $100 Given that the wok firm offers both products, what prices can it offer in order to ensure the two groups will profitably self-sort into buying the brand that the firm wants them to buy? O a. No-name $50; High-end $100 O b. No-name $60; High-end $90 O C. No-name $60; High-end $100 O d. No-name $50; High-end $90QUESTION 3 Cooking Wok Value to home users Value to professional Chefs No-name brand $50 $60 High-end professional series $70 $100 Suppose the firm charges $50 for the no-name brand, are the chefs likely to pay the full $100 for the high-end wok? O a. Yes, because they value it at $100 O b. No, because they value it at $70 O C. No, because they can get a positive consumer surplus buying the no-name brand O d. All of the aboveeLearning Help Cooking Wok Value to home users Value to professional Chefs No-name brand $50 $60 High-end professional series $70 $100 Given that the firm decides to only offer the high-end wok, what is the highest price it can charge the chefs? O a. $80 O b. $70 O C $100 O d. $90 QUESTION 2 Cooking Wok Value to home users Value to professional Chefs No-name brand $50 $60 High-end professional series $70 $100 What is the maximum that the firm can charge for the no-name brand wok without losing customers? a. $70 O b. $50 O C. $60 O d. $100