What about the elasticity of demand for textbooks

Reference no: EM133341684

Question: Some college students in America have reported that the prices of (print) textbooks are quite high (reaching up to $300 for some textbooks). Note that the college textbook publishing industry contains a few large firms. Why are textbook prices so high? Shouldn't one expect competition to drive them down? What about the elasticity of demand for textbooks (as applied to the instructor and the retail bookstore industry, in general)? Why do publishers not lower their college textbook prices?

Reference no: EM133341684

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