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Chapter 33 Set
Why College Textbooks Cost So Much
5
Economics
Undergraduate 1
05/05/2013
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Term
advance
 Definition
the amount of money paid to authors prior to a books publication, this is typically counted against future royalties
Term
royalties
 Definition
the amount of money paid to authors, typically paid on a percentage basis
Term
No Competition therefore prices higher.
 Definition
No Competition therefore prices higher.
Term
High fixed cost-low marginal cost.
 Definition
High fixed cost-low marginal cost.
Term
Monopoly markets.
 Definition
Monopoly markets.
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