Campus Bookstore Is the Only Textbook Supplier in the Town,a

question 1

Multiple Choice

Campus Bookstore is the only textbook supplier in the town,a profit-maximizing business.The table below represents the reservation prices for the eight students enrolled in the class for which this book is required. $$\begin{array} { c c } \text { Customer } & \begin{array} { c } \text { Reservation Price } \\\text { (\$/book) }\end{array} \\\mathrm { Q } & 60 \\\mathrm { R } & 54 \\\mathrm {~S} & 48 \\\mathrm {~T} & 42 \\\mathrm { U } & 36 \\\mathrm {~V} & 30 \\\mathrm {~W} & 24 \\\mathrm { X } & 18\end{array}$$
Assume that the marginal and average total cost for each book is $12.
If the bookstore can charge two different prices for this book,the economic profit for the bookstore is ______.

• A)greater than $120
• B)less than $120
• C)exactly $120
• D)exactly $48

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Definitions:

Enlightenment

An intellectual and philosophical movement that dominated the world of ideas in Europe during the 17th and 18th centuries, emphasizing reason, individualism, and skepticism of traditional doctrines.

Voltaire

Voltaire was the pen name of François-Marie Arouet (1694-1778), a French Enlightenment writer, historian, and philosopher known for his advocacy of freedom of speech, separation of church and state, and civil liberties.

France

A country in Western Europe known for its rich history, culture, and contributions to art, philosophy, and science.

William Hogarth

An 18th-century English painter and printmaker noted for his satirical works that critique the morals and customs of his time.