Textbook Publishers Can Charge High Prices Because Students Enrolled in a Class

question 30

Multiple Choice

Textbook publishers can charge high prices because students enrolled in a class must purchase the specific book that the professor has selected. Used copies are sometimes a lower-cost option, but textbook publishers have cleverly worked to undermine the used textbook market by releasing new editions after very short periods of time. According to Porter what "force" do textbook publishers represent?

• A) Buyers
• B) Suppliers
• C) Substitutes
• D) New Entrants
• E) Rivals