Consider a College That Has Only Ever Had One On-Campus

question 41

Multiple Choice

Consider a college that has only ever had one on-campus bookstore.Over the last two years you have observed that book prices are 20% lower.You conclude that

• A) the cost of producing books must have fallen.
• B) the college ordered the bookstore to lower prices.
• C) competition from online stores has encouraged the bookstore to behave as an insecure monopolist.
• D) fewer students are opting to buy books and supply has decreased.

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