Most college courses have a required textbook. Previously, textbooks were only available through the campus bookstore, but now, these texts can be purchased from online retailers, other bookstores, or students can buy an electronic version of the text. Because of this, we can predict the price elasticity of demand for textbooks from the campus bookstore is
A) increasing.
B) decreasing.
C) staying the same.
D) increasing and then decreasing.

Question

Quizplus · Accepted Answer

The availability of textbooks from multiple sources increases competition, making the demand for textbooks from the campus bookstore more elastic.

Most College Courses Have a Required Textbook