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12. The price elasticity of demand for a textbook sold in the
United States is estimated to be -2.0, whereas the price elasticity
of demand for books sold overseas is – 3.0. The U.S. market
requires hardcover books with a marginal cost of $7; the overseas
market is normally served with soft cover texts, having a marginal
cost of only $5. Calculate the profit-maximizing price in each
market. (Hint: Remember that MR = P (1 + 1/e)