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. 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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