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[3]The publisher of an economics textbook sells its book to consumers in the United Kingdom (UK) and the United States (US).Currently, the publisher charges a
[3]The publisher of an economics textbook sells its book to consumers in the United Kingdom (UK) and the United States (US).Currently, the publisher charges a price equivalent to $100 in each country.However, after hiring an analyst, who estimates the price elasticity of demand for the book in the US is 0.50, while in the UK it is 1.50, if the publisher wishes to maximize its total revenue from the book, carefully explain what it should do to the prices charged in each country (i.e., should prices remain at $100, or be changed, and why
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