Word: textbook
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Coop officials say, however, that there is no fortune to be made in textbook sales. In fact, they say that textbooks are offered more as a service to students than a profitable venture...
Coop President Jeremiah P. Murphy '73 was happy to explain where the 25 to 28 percent retailer markup on a textbook goes. Of this markup, about 11 percent goes to the administrative costs of book purchasing, including hiring staff to obtain book lists from professors...
...cooperative, any profit must be returned to its members proportional to their purchases. The rebate for the previous fiscal year was announced in October as 4.5 percent. Since the standard Coop profit on a textbook sale is 2.5 percent lower than the rebate, the Coop actually takes a loss on textbook sales to Coop members...
While many students may conceive of the textbook sale as occurring between them and the Coop, the more important sale occurs between a representative from the publisher and the professor...
Wolcowitz, who is also a senior lecturer on economics, discusses an article on textbook pricing and compensation in his course, Economics 1010a, "Microeconomic Theory." The economics of the issue are that in seeking to optimize profit, publishers seek to meet the desires of their consumers, who are the professors, not really the students...