Professor Kremepuff's New, User-Friendly Textbook Has Just Been Published

question 1

Multiple Choice

Professor Kremepuff's new, user-friendly textbook has just been published.This book will be used in classes for two years, after which 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 used copies for p₂/2 and resell them to students in the second year for p₂.(Students are indifferent between new and used copies.) The cost to a student of owning the book during the first year is therefore p₁ - p₂/2.In the first year of publication, the number of students willing to pay $v to own a copy of 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 $w to keep the book for reference rather than sell it at the end of the year is 60,000 - 5,000w.The number of persons who are taking the course in the second year and are willing to pay at least $p for a copy of the book is 45,000 - 1,000p.If the publisher sets a price of p₁ in the first year and p₂ <= p₁ in the second year, then the total number of copies of the book that the publisher sells over the two years will be

• A)120,000 - 3,000p₂.
• B)120,000 - 1,000(p₁ - p₂/2).
• C)120,000 - 1,000p₁ - 1,000p₂.
• D)105,000 - 1,000(p₁ + p₂/2).
• E)105,000 - 1,500p₂.

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Definitions:

Id

In psychoanalytic theory, the part of the personality that is the source of instinctual impulses and demands for immediate satisfaction of primitive needs.

Psychosexual Stages

A theory by Sigmund Freud that describes the development of human personality and behavior in terms of a series of stages during childhood, each characterized by a specific erogenous zone and conflict.

Oral

The first stage of Freud's psychosexual development, where pleasure centers on activities involving the mouth.

Phallic

Relating to or resembling a phallus, often used in the context of Freudian psychoanalysis to describe the stage of child development focused on the genitals.