PROBLEM II. Suppose that there is a monopolist with two units of a durable good. There are only two consumers, where one consumer has a willingness to pay of 40 and the other has that of 30. The market for the durable good only lasts two periods. In each period the monopolist sets a price and the consumers decide whether to purchase or not. Suppose that both consumers have the same discount factor & and the monopolist has a discount factor n. Q5. Under what condition on 8 and ŋ does the consumer with the higher willingness to pay only buy the good in period 1 at the monopolist's profit-maximizing prices? (a) n≥ (2+)/3 (b) (1+2n)/3 (c) n≥ (1+5)/2 (d) ≥ (1+1)/2 (e) Q6. When (1+36)/4 = 0.7 and n = 0.95, what is the profit-maximizing price in period 1 for the monopolist? (a) 30 (b) 35 (c) 33 (d) 37 (e) 40 6 Q7. When = 0.95 and 7 = 0.7, what is the profit-maximizing price in period 1 for the monopolist? (a) 30 (b) 35 (c) 33 (d) 37 (e) 40