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The scam exists at all levels: both university bookstore and publisher. Since textbooks don't have cover prices, university bookstores can charge whatever they want; it's for this reason that most of them try to hog the faculty's textbook lists to themselves. If faculty give their textbook lists to other bookstores, competition sets in and the price the college bookstore can charge goes down. In my town, students set up a coop bookstore off-campus to break the university bookstore monopoly, and it did bring prices down for some books. Some professors will only send their booklists to the coop.
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