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Suppose that in the early part of a new book's life, sales drop by 15% to 20% each term, as the pool of used books

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Suppose that in the early part of a new book's life, sales drop by 15% to 20% each term, as the pool of used books on the market grows. This is because after being on the market, the latest edition of a given textbook will have made its way into the used textbook market, giving many students the opportunity to move from new textbooks toward used ones. As the supply of used textbooks increases, the price of used textbooks decreases, and thus the expected resale value for new textbooks declines. Suppose the publisher still plans to charge the same price of $140 per new copy of the textbook between editions. Adjust the previous graph to show the effect of the market for used textbooks on the demand for new economics textbooks in 2019. (Note: Select and drag the curve to the desired position. The curve will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.) Next, use the purple rectangle (diamond symbols) to shade the area representing the revenue the publisher should expect in 2019. (Note: Select and drag the shaded region from the palette to the graph. To resize the shaded region, select one of the points and move to the desired position. To see the area of the rectangle, select the shaded region. ) Then answer the question that follows. In 2019, at $140 copies of textbook will be demanded, and the publisher's expected revenue is $

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