News Analysis for Ch 04: When it Comes to Textbooks, both Students and Publishers do Their Homework Quantity 166.67 Demanded 120 (Thousands of textbooks) 90 PRICE (Dollars per textbook Demand Shifters 60 Expected Resale $60 Value 30 (Dollars) 0 98 199 300 398 499 600 QUANTITY (Thousands of textbooks) Suppose that the publisher of this textbook sets the price of the textbook to $90, and the current resale value is $60. At this price, the quantity of new textbooks demanded is approximately 300,000 per year. The publisher holds the price of the textbook constant at $90 over the life of this latest edition. Two years after the release of this edition, the expected resale value of the textbook falls to $50. The quantity of new textbooks demanded is now approximately 267,000 _ per year