The technology of book publishing is characterized by a high fixed cost (typesetting the book) and a very low marginal cost (printing). Prices are
The post Book publishing first appeared on COMPLIANT PAPERS.
The technology of book publishing is characterized by a high fixed cost (typesetting the book)
and a very low marginal cost (printing). Prices are set at much higher levels than marginal cost.
However, book publishing yields a normal rate of return. Are these facts consistent with profit
maximizing behavior by publishers? Which model do you think describes this industry best?
The post Book publishing first appeared on COMPLIANT PAPERS.
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