Information Technology(Hal Varian)

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Information Technology(Hal Varian)

kangkan
Prok K has published a new book..This book will be used in classes for two years ,after which it will replaced by  a  new edition.The publisher charges a price p1 in the 1st year and p2 in a second year.After the first year,bookstores buy bac used copies for p2/2(Students are indifferent between new and used).In the 1st year,the demand function is 60000-1000p.The number of students taking the course in the 1st year who are willing to pay w to keep the book for reference it at the end is 60000-5000w.The number of persons who are tking the course in the seond year and are willing to pay pay p are 50000-1000p.If the publisher sets price p1 in the 1st yr and p2 in 2nd yr(p2<p1),then the total number of copies will be sold is:.i am getting 110,000-3500p2 but it is not among the options