Professor Kremepuff Has Published a New Textbook

question 16

Multiple Choice

Professor Kremepuff has published a new textbook. This book will be used in classes for two years, at which time it will be replaced by a new edition. The publisher charges a price of $p₁ in the first year and $p₂ in the second year. After the first year, bookstores buy back copies from students for $ and resell them to students in the second year for $p₂. (Students are indifferent between new and used copies.) The cost to a student in the first year of owning the book for a year is therefore $(p₁ - ) . In the first year of publication, the number of students willing to pay $v to own the book for a year is 60,000 - 1,000v. The number of students taking the course in the first year who are willing to pay at least $w to keep the book for reference rather than resell it is 60,000 - 5,000w. In the second year, the number of students who have not previously taken the course and are willing to pay at least $p for a copy of the book is 50,000 - 1,000p. If the publisher sets a price of $p₁ in the first year and $p₂ in the second year, with p₁ B3 p₂, then the total number of copies that the publisher sells over two years will be equal to

• A) 110,000 - 1,000(p₁ +).
• B) 120,000 - 1,000(p₁ -).
• C) 120,000 - 3,000p₂.
• D) 120,000 - 1,000p₁ - 1,000p₂.
• E) 110,000 - 1,500p₂.

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Definitions:

Silicosis

A lung disease caused by inhaling tiny bits of silica, predominantly from quartz, leading to inflammation and scarring in the form of nodular lesions in the upper lobes of the lungs.

Asbestosis

A lung disease resulting from the inhalation of asbestos particles, characterized by fibrosis of the lungs and breathing difficulties.

Internal Respiration

The exchange of gases (oxygen and carbon dioxide) between the blood and the body cells.

Alveoli

Microscopic air sacs in the lung.