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Something that should be considered in all this is that Amazon agrees that ebooks should be cheaper than pbooks. They fought the agency model, and have eagerly advertised the fact that ebooks would save money, especially before they were forced into accepting it last spring.
They also penalize pricing of ebooks that aren't at least 20% cheaper than the pbook version.
Jeff Bezos gave many of the same reasons as people have in this thread.
Just something to consider.
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