İngilizce Soru Bankası - kpss 2008 Soru 55

55-) We can understand from the passage that consumers who are willing to wait before buying a product ----.

Most books are published in two forms – hardback and paperback – the paperback edition being published and available for sale several weeks or months later than the hardback edition. The cost of producing a hardback book is only about 20% higher than the cost of producing the same book as a paperback, but the price of a hardback book is about three times the price of a paperback book. Why? The key to solving this puzzle is the fact that hardback books are published first, followed by the paperback edition. Booksellers use hardbacks and paperbacks to distinguish between two types of consumers: those who are willing to pay a lot and those who are willing to pay a little. The people who are willing to pay the most are eager to read the book as soon as it comes out, so they pay $24 for a hardback book. The people who are willing to pay less are more patient and are willing to wait a few months for the $8 paperback version. The pricing of hardback and paperback books is an example of price discrimination, in which certain people are prepared to pay a higher price for what they want.