Assignment:
In recent years, Amazon, Walmart, Target, and others have been dramatically discounting some bestselling books; sometimes selling popular hardcover titles at under $10. In Europe's major publishing markets other than the United Kingdom, most new books, both print and online, must be sold at the price specified by the publisher; that is, discount pricing is forbidden by law.
a. Why would Europeans accept anti discounting laws that keep new book prices high?
b. How would you expect the anti discounting laws to affect the prices of used books?
c. Germany, with a population of about 82 million, has about 7,000 bookstores while the United States, with a population of over 310 million, has about 11,000 bookstores. Is America's literary culture threatened by allowing giant retailers to aggressively discount? Explain.