A museum is setting prices for the guides it sells in its gift shop. The elasticity of demand for museum guides among locals and among foreign visitors are -2 and -1.25, respectively. Suppose the marginal cost of production of a guide is 8.

a) What must be the price of a guide for locals and the price of a guide for visitors, if the museum has set prices to maximize profit?

b) The guide has been published in Catalan (a language spoken by some 10 million people in Eastern Spain and Andorra, but hardly anywhere else) as well as in English, Spanish, and five other languages. Explain why this helps make the pricing strategy in (a) feasible.