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Swelling Textbook Costs Have College Students Saying ‘Pass'
Textbook prices have been rising at double the rate of inflation for the past two decades. nearly 60 percent of students nationwide choose not to buy all the course materials. For students working to pay for school or for those whose parents sweat every increase in tuition, book prices can be a nasty surprise. And plenty of students come up with their own strategies: Hunting down used copies and selling books back at the end of the semester; buying online, which is sometimes cheaper than the campus store; asking professors to put a copy in the library and waiting around till it's free. Or borrowing, copying, taking careful notes in class and gambling that the exam questions don't come from the text.
Explain what this news clip implies about
a. The price elasticity of demand for college textbooks.
b. The income elasticity of demand for college textbooks.
c. The cross elasticity of demand for college textbooks from the campus bookstore with respect to the online price of a textbook.
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