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Tag Archives: textbooks

Are economics textbooks too expensive?

Greg Mankiw has an interesting article that discusses the teaching of basic economics. This caught my eye: A common argument used to explain the high price of textbooks involves the principal agent problem between student and instructor. The instructor chooses the book, often oblivious to its price. The student has little choice but to buy the book. As a result, the publisher has substantial market power and sets the price much above cost, resulting in exorbitant...

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