The availability of used textbooks serves to increase the price of new textbooks. There are several reasons to conclude this. One reason is that textbook publishers will sell fewer new textbooks if used textbooks are widely available, forcing them continuously to create new textbook editions to generate sustainable revenue. This results in a cyclical process whereby publishers publish a new edition, let the market saturate with used textbooks, spend capital to produce another new edition, publish the revision, and again wait for the used textbook market to become saturated with the new edition. This process continues indefinitely, with each new edition having a further inflated price. Above passage makes a: