Textbook Prices

Listen to the podcast

https://www.npr.org/sections/money/2016/09/16/494266135/episode-573-why-textbook-prices-keep-climbing

1)What markets did Professor Mankiw say were similar to textbooks?

2)In the principle-agent problem in the textbook market, who is the agent _____________ and who is the principle _______________________?

3)What did Professor Mankiw argue is the biggest expenditure for students?

4)Would you prefer to pay a bit more for a better textbook or pay less for one that requires more work on your part?Explain your reasoning.

5)Which have higher profit margins for publishers:College textbooks or High School textbooks?

6)What has the internet done for the used textbook market?How does that impact the revenues of the book authors/publishers?

7)What has been the trend, in terms of how much, on average, students are spending on required course materials (according to the podcast)?

8)Where are publishers putting their resources now?What are they producing now to combat the problem of losing revenue?

9)What is the drawback for students with digital textbooks?

10)How do you expect the prices of textbooks to impact your education?

11)What was the most interesting thing to you in the podcast?