Business, 16.06.2021 20:10 Geo777

. Consider the choice model given below: ChoiceChoice Probability Product 0 (no buy)1/[1+exp⁡(1.25-.8p_1 )+exp⁡(1.5-.8p_2 )+exp⁡(1.75-.8p_3 )+exp⁡(2-.8p_4 ) ] Product 1exp⁡(1.25-.8p_1 )/[1+exp⁡(1.25-.8p_1 )+exp⁡(1.5-.8p_2 )+exp⁡(1.75-.8p_3 )+exp⁡(2-.8p_4 ) ] Product 2exp⁡(1.5-.8p_2 )/[1+exp⁡(1.25-.8p_1 )+exp⁡(1.5-.8p_2 )+exp⁡(1.75-.8p_3 )+exp⁡(2-.8p_4 ) ] Product 3exp⁡(1.75-.8p_3 )/[1+exp⁡(1.25-.8p_1 )+exp⁡(1.5-.8p_2 )+exp⁡(1.75-.8p_3 )+exp⁡(2-.8p_4 ) ] Product 4exp⁡(2-.8p_4 )/[1+exp⁡(1.25-.8p_1 )+exp⁡(1.5-.8p_2 )+exp⁡(1.75-.8p_3 )+exp⁡(2-.8p_4 ) ] Calculate the optimal prices that maximize revenues. What is the optimal revenue per customer?

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. Consider the choice model given below: ChoiceChoice Probability Product 0 (no buy)1/[1+exp⁡(1.25-....

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