Consider a College That Has Only Ever Had One On-Campus

Multiple Choice

Consider a college that has only ever had one on-campus bookstore.Over the last two years you have observed that book prices are 20% lower.You conclude that

A) the cost of producing books must have fallen.
B) the college ordered the bookstore to lower prices.
C) competition from online stores has encouraged the bookstore to behave as an insecure monopolist.
D) fewer students are opting to buy books and supply has decreased.