Question: Question 4 - For a given, 0 if p <1 W(p) (p-1) if 1 p 2 1 if p > 2 a. (0.25 pts)

Question 4 - For a given, 0 if p 2 a. (0.25

Question 4 - For a given, 0 if p 2 a. (0.25 pts) Find the corresponding willingness-to-exactly pay w(x) function. b. (0.5 pts) Derive the price-response function d(p) if D = 20,000.

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