Hardcover books usually cost much more to purchase that do otherwise identical paperback editions of the same book because
A) hardcover books typically last longer.
B) the demand for hardcover books is typically less elastic than the demand for paperback books at the same price.
C) the marginal cost of producing hardcover books typically rises as output increases.
D) the marginal cost of producing paperback books typically falls as output increases.
E) the mergers in the book-publishing industry have encouraged price discrimination.
Answer: B) the demand for hardcover books is typically less elastic than the demand for paperback books at the same price.
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a. true b. false
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